Which one of the following statements is true?
a. Resources flow from the government to firms.
b. Taxes flow from foreign economies to the government.
c. Goods and services flow from households to foreign economies.
d. Resources flow from households to firms.
e. Resource payments flow from households to the government.
d
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Suppose the government imposes a price support that is above the equilibrium price. As a result,
A) total revenue increases. B) consumer surplus increases. C) the marginal cost of the last unit produced decreases. D) the government has effectively imposed a price ceiling. E) the subsidy the government pays decreases.
Which part of the Federal Reserve System meets every 6 weeks to determine the nation's monetary policy?
A) Federal Open Market Committee B) Board of Governors C) the Federal Reserve Banks D) depository institutions such as commercial banks