During the late 1960s, U.S. defense spending increased as the United States fought in Vietnam. This increase in government expenditure on goods and services most likely created

A firm has an average total cost of $50. If it sells 20 units of its product at $80 each, what is its profit?

A) $30 B) $600 C) $1,000 D) $1,600

Which of the following is a liability of the Federal Reserve?

A) currency B) mortgage-backed securities C) U.S. government securities D) U.S. coins