The key decision maker for U.S. monetary policy is:
A. Congress.
B. The president.
C. The president's cabinet.
D. The Board of Governors.
D. The Board of Governors.
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John is trying to decide how to divide his time between his job as a stocker in the local grocery store, which pays $7 per hour for as many hours as he chooses to work, and cleaning windows for the businesses downtown. He makes $2 for every window he cleans. John is indifferent between the two tasks, and the number of windows he can clean depends on how many hours he spends cleaning in a day, as shown in the table below:Hours PerDay CleaningWindowsTotal Numberof WindowsCleaned0017211314416517What is the lowest price per window that would induce John to spend at least one hour per day cleaning windows?
A. $2 B. $3 C. $1 D. $7
A likely consequence of deposit insurance, ceteris paribus, is ________
A) an increase in risk-taking by banks B) a bank panic C) a credit boom D) a reduction in the severity of adverse selection
Increased production, but not increased inflation, will result in higher:
a. nominal GDP. b. money GDP. c. real GDP. d. current dollar GDP.
If the actual price level exceeds the expected price level reflected in long-term contracts,
a. many firms will find production more profitable than they had expected and will increase the quantity of output supplied. b. many firms will find production less profitable than they had expected and will decrease the quantity of output supplied. c. many firms will find production more profitable than they had expected and will decrease the quantity of output supplied. d. many firms will find production less profitable than they had expected and will increase the quantity of output supplied.