If marginal cost is greater than average total cost then
a. profits are increasing
b. economies of scale are becoming greater
c. average total cost remains constant
d. average total cost is increasing
e. average total cost is decreasing
D
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The ability of the Federal Reserve to use monetary policy to affect economic variables such as real GDP ultimately depends upon its ability to affect
A) nominal interest rates. B) foreign exchange rates. C) real interest rates. D) tax rates.
For how long is the chairman of the board of governors of the Fed appointed and by whom?
a. Appointed for two years by all the other governors b. Appointed for two years by the governor of the New York district branch c. Appointed for two years by the president of the United States d. Appointed for four years by all the other governors e. Appointed for four years by the president of the United States