The Federal Reserve System consists of 12 ___________ and 7 ______________.
A. regional banks; Board of Governor's members
B. Board of Governor's members; regional banks
C. regional banks; member banks
D. member banks; regional banks
A. regional banks; Board of Governor's members
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XYZ Co operates in a competitive market. Its marginal product of labor is 1/L, and it takes the wage and price as given. Derive the firm's short-run demand for labor as a function of w and p. How much labor will the firm hire if w = 2 and p = 10?
What will be an ideal response?
The market demand for most goods will
A. increase if the prices of substitutes fall. B. decrease if the price of complementary goods fall. C. increase if consumers expect prices to be higher in the future. D. decrease if consumers expect the goods to become less available.