What is the Federal Open Market Committee and what are its main functions?
What will be an ideal response?
The Federal Open market Committee (FOMC) is the main policy-making group within the Federal Reserve System. It decides upon the nation's monetary policy as conducted through open market operations. The FOMC meets approximately once every six weeks.
Economics
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What is producer surplus?
What will be an ideal response?
Economics
A firm's demand curve for labor slopes downwards because
A) firms supply less labor as the wage rate rises. B) of rising marginal product. C) workers supply less labor services as the wage rate falls. D) of the law of diminishing marginal returns.
Economics