The organization of the federal reserve- the institution that controls our money supply - can be described in terms of a pyramid. at the top of the pyramid is the . it is composed of seven members who are appointed by the to serve 14-year terms of office. from those seven, the the head of the federal reserve system. one step down in power is the . their job is to set in the united states, which means they influence the availability of money in the u. s. this portion of the hierarchy is made up of the in the united states. these are found all across the country in major cities. there are also , which make up less than 40% in the u. s. and the last part of the fed's organization can be categorized as , which include savings banks, savings and loans banks, credit unions. of course, at the base of it all, is the , who are all impacted by decisions of the federal reserve system.

The market price of cheeseburgers in a college town increased recently, and the students in an economics class are debating the cause of the price increase. some students suggest that the price increased because the price of beef, an important ingredient for making cheeseburgers, has increased. other students attribute the increase in the price of cheeseburgers to a recent increase in college student enrollment.1. the first group of students thinks the increase in the price of cheeseburgers is due to the fact that the price of beef, an important ingredient for making cheeseburgers, has increased. (what happened to demand and supply, shift to the right or left)2. the second group of students attributes the increase in the price of cheeseburgers to the increase in college student enrollment. (what happens to demand and supply, shift to the right or left)3. suppose that both of the events you analyzed above are partly responsible for the increase in the price of cheeseburgers. based on your analysis of the explanations offered by the two groups of students, how would you figure out which of the possible causes was the dominant cause of the increase in the price of cheeseburgers? (choose a, b, c, or d)a)if the price increase was small, then the supply shift in the market for cheeseburgers must have been larger than the demand shift. b)if the equilibrium quantity of cheeseburgers decreases, then the demand shift in the market for cheeseburgers must have been larger than the supply shift. c)if the equilibrium quantity of cheeseburgers decreases, then the supply shift in the market for cheeseburgers must have been larger than the demand shift. d)whichever change occurred first must have been the primary cause of the change in the price of cheeseburgers.

Consider an economy where government expenditures are 10 and total tax revenues are 10. the supply of labor is fixed at 125 and the supply of capital is fixed at 8. the economy is described by the following equations. y k to the power of 1 divided by 3 end exponent l to the power of 2 divided by 3 end exponent c 2.5 + 0.75 ( y - t ) i 10 - 0.5 r the level of private savings is

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided