Answer the question based on the information given in the table below that shows the items and figures taken from a consolidated balance sheet of the twelve Federal Reserve Banks. All figures are in billions of dollars.
In the balance sheet above for the Federal Reserve, the liabilities and net worth would be items 7 and:
A. 1, 3, and 5
B. 2, 4, and 5
C. 1, 2, and 3
D. 4, 5, and 6
C. 1, 2, and 3
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"If fines for speeding when driving increase, fewer accidents will occur" is an example of a(n)
A) positive statement. B) normative statement. C) negative statement. D) inverse statement.
Which of the following statements is correct for both a monopolist and a perfectly competitive firm? (i) The firm maximizes profits by equating marginal revenue with marginal cost. (ii) The firm maximizes profits by equating price with marginal cost. (iii) Demand equals marginal revenue. (iv) Average revenue equals price
a. (i), (iii), and (iv) only b. (i) and (iv) only c. (i), (ii), and (iv) only d. (i), (ii), (iii), and (iv)