The members of the Board of Governors of the Federal Reserve are
A) elected by a vote of the Federal Reserve District Bank presidents.
B) appointed by the President of the United States with approval by the Senate.
C) appointed by the Congress with approval by the President of the United States.
D) elected by a general election of the citizens of the United States.
B
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Suppose Spam is an inferior good. If the U.S. economy is growing strong, and demanders' incomes were to rise, which of the following would tend to occur?
A) Spam sales would increase. B) Spam demand would decrease. C) The price of Spam would increase. D) Both A and C above. E) Both B and C above.
A frim wishing to acquire a monopoly position would be willing to spend an amount up to its anticipated monopoly profit in rent-seeking activities
a. True b. False