In February, market analysts predict that the price of titanium will rise in March. What happens in the titanium market in February, holding everything else constant?
A) The supply curve shifts to the right.
B) The supply curve shifts to the left.
C) The quantity of titanium demanded and the quantity of titanium supplied both increase.
D) The demand curve shifts to the left.
Answer: B
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An efficient allocation of resources is reached in the figure above when output equals
A) 1 million. B) 2 million. C) 3 million. D) 4 million.
Which of the following is a provision of the Federal Reserve Act or subsequent legislation that weakens the independence of the Federal Reserve?
a) The Federal Reserve's actions are subject to executive branch control. b) Members of the Federal Reserve Board serve 14-year terms. c) Members of the Federal Reserve Board cannot be reappointed. d) The Federal Reserve System is subject to Congressional oversight.