Economics econ 1010 - Study guides, Class notes & Summaries

ECON 1010 - Introduction to Microeconomics Instructor: Michael G. LanyiWhich one of the follow ing concepts is not illu strated by a p rod u ction p ossibilities frontier? A) op p ortu nity cost B) monetary exchange C) attainable and u nattainable p oints D) scarcity E) the trad eoff betw een prod ucing one good versus another Answer: B User1: Use the figure below to answer the following question(s). Figure 2.1 2) Complete the follow ing sentence. In Figure 2.1, A) movement from c to b w ould re...

The Federal Reserve System is: A. a group of twelve commercial banks. B. the central bank of the United States. C. the agency of the U.S. government that insures commercial bank deposits. D. the branch of the U.S. Treasury that keeps the U.S. gold reserves. 2. The central bank of the United States is: A. Bank of America. B. Bank of the United States. C. Bank One. D. the Federal Reserve System. 3. The Federal Reserve System first began operations in: A. 1789. B. 1865. C. 1914. D. 19...