The Federal Reserve System consists of
A) one Federal Reserve Bank and 12 Federal Reserve districts, each with one branch bank.
B) a main central bank located in New York, with 11 additional branch banks located across the country.
C) 12 Federal Reserve Banks, each of which have a degree of independence from the U.S. government.
D) 12 independent banks in the 12 Federal Reserve districts, each of which are owned and controlled by the federal government.
C
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If vouchers for a good or service given to consumers, then the supply curve ________ and the demand curve ________
A) shifts leftward; shifts leftward B) shifts leftward; shifts rightward C) shifts rightward; shifts rightward D) does not shift; shifts rightward E) shifts rightward; does not shift
You expect one-third of your customers to be high value, willing to pay $9 for your product, and the other two-thirds to be low value customers willing to pay only $3 . You cannot tell them apart. If the product costs $3, and you charge $9, what is your expected profit?
a. $1 b. $2 c. $3 d. $4