When the Federal Reserve System was established in 1913, its main policy goal was
A) encouraging strong economic growth.
B) promoting price stability.
C) preventing bank panics.
D) keeping employment high.
Answer: C
Economics
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Which of the following is the best example of a monopolistically competitive industry?
A) land-based long distance telephone service B) wheat farming C) the local electricity producer D) manufacturing of shirts E) cable television
Economics
The market demand for MP3 players is p = 50 - 0.5Q, and the marginal cost for Nick to obtain and sell an MP3 player is $12. If he receives 60% of the MP3 sales revenue, then
A) Nick will sell 38 MP3 players. B) Nick will sell 50 MP3 players. C) Nick will receive $270 as profit. D) total profit is $342.
Economics