The Federal Open Market Committee (FOMC)
A) has six members.
B) conducts open market operations.
C) is the policy-making body within the Treasury.
D) is the governing body of the Federal Reserve System.
E) a, b, and c
B
Economics
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Marginal revenue product can be calculated using the formula marginal product × output price
A) only if the both marginal product of labor and the output price are constant. B) only if the firm has market power in the labor market C) only if output price is constant. D) only if the marginal product of labor is constant.
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Benefits from specialization and trade exist even if the number of workers in trading nations is altered
a. True b. False Indicate whether the statement is true or false
Economics