The FOMC is the
A) name of the meeting the Fed has with Congress twice a year.
B) report that summarizes the economy across Fed districts.
C) report the Fed gives to Congress twice a year.
D) group within the Fed that makes monetary policy.
E) interest rate the Fed most directly influences.
D
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In the simultaneous move labor negotiation game:
a. The payoffs from bargaining hard are only higher if your opponent accommodates b. The payoffs from bargaining hard are only higher if your opponent bargains hard c. The payoffs are always higher if you bargain hard d. The payoffs are always higher if your opponent bargains hard
"The firm hires the factor up to the point where the value of the factor's marginal product is equal to the factor's price." This statement applies to which factor of production?
a. labor only b. land only c. capital only d. land, labor, and capital