Robert McTeer,the Former President of the Federal Reserve Bank of Dallas,asserted

question 140

Multiple Choice

Robert McTeer,the former President of the Federal Reserve Bank of Dallas,asserted in a commencement address that the study of economics

• A)is more beneficial to those who are just starting their careers than to those who have moved up the career ladder.
• B)helps students understand fallacies and unintended consequences.
• C)has an unintended consequence itself, and it is that even serious students of economics usually fall for the broken window fallacy.
• D)All of the above are correct.

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Definitions:

Candle Power

A measure of light intensity now largely replaced by the metric unit, candela.

Florescent Light

An energy-efficient lighting device using mercury vapor to emit UV light, which then causes a phosphorescent coating to glow.

Ballast Resistor

An electrical resistor used to limit the current flowing through circuits, often found in ignition systems to protect components from overcurrent.

Instrument Cluster Unit

The assembly of gauges and warning indicators located on a vehicle's dashboard, providing essential information to the driver.