Who owns the Fed?
a. The federal government.
b. The states.
c. The District Federal Reserve Banks.
d. All banks.
e. Member banks.
e
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In equilibrium, the real value of household income must equal
A) the real value of output produced by firms. B) the real value of all expenditures. C) the sum of all goods produced in a year. D) net GDP.
The share of U.S. personal saving in contractual form is ________, which helps ________ the effectiveness of stabilization policy
A) growing, enhance B) growing, undermine C) shrinking, enhance D) shrinking, undermine
The flatter the demand curve through a given point, the
a. greater the price elasticity of demand at that point. b. smaller the price elasticity of demand at that point. c. closer the price elasticity of demand will be to the slope of the curve. d. greater the absolute value of the change in total revenue when there is a movement from that point upward and to the left along the demand curve.
Suppose a union negotiates for its members a wage that is above the market-clearing wage. What problems does the union have to solve now? Explain
What will be an ideal response?