The voting members of the Federal Open Market Committee are
A) all of the members of the Board of Governors and five of the presidents of the 12 Federal Reserve banks.
B) only the members of the Board of Governors.
C) the presidents of the 12 Federal Reserve banks and three members of the Board of Governors.
D) all of the members of the Board of Governors and all of the presidents of the 12 Federal Reserve banks.
A
Economics
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A justification for patents is that without patents consumer surplus would be
A) larger than with the patent. B) zero since the product would not be invented. C) only slightly smaller than with the patent. D) zero since the monopoly would be a revenue maximizer.
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In what sense is capital accumulation costly to a society?
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