The Federal Reserve System is:
A. the agency of the U.S. government that insures commercial bank deposits.
B. a group of twelve commercial banks.
C. the central bank of the United States.
D. the branch of the U.S. Treasury that keeps the U.S. gold reserves.
Answer: C
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Which statement best describes the trend in land allocation laws from the Land Ordinance of 1785 to the Homestead Act of 1862?
a. The changes were more favorable to those who held a conservative belief about land allocation. b. The changes were more favorable to those who held a liberal belief about land allocation. c. There was no consistent trend in the changes; some changes favored the conservatives and others favored the liberals.
Which of the following would increase a firm's average total costs?
a. economies of scale b. an increase in input prices c. an improvement in technology d. an increase in demand for the firm's product