In the above figure, suppose that the government sets a limit that may be produced of 10 units of output and the price rises to $4. In comparison to a competitive market the producer surplus would rise by

Members of the Federal Reserve Board of Governors

A) are confirmed by the House of Representatives. B) frequently need to deal with political pressures. C) are members of the Federal Open Market Committee. D) are appointed to 4 year terms.

If a currency increases in value in response to market forces, this process is known as

A. reflation. B. revaluation. C. appreciation. D. value-added.