Subject to the approval of the Board of Governors, the decision of choosing the president of a district Federal Reserve Bank is made by
A) all nine district bank directors.
B) the six district bank directors elected by the member banks.
C) three district bank directors who are professional bankers.
D) district bank directors who are not professional bankers.
E) class A and class B directors.
D
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In a model of consumption and leisure, a drop in the wage will cause workers to work more if tastes are quasilinear in consumption.
Answer the following statement true (T) or false (F)
With a reserve ratio of 10 percent, the maximum potential money multiplier is
A) 1. B) 5. C) 10. D) 100.
Which scenario best explains the Keynesian transmission mechanism when the investment demand curve is vertical?
A) The interest rate falls, investment falls even more, the AD curve shifts rightward, but total expenditures do not change. B) The interest rate falls, investment rises, total expenditures rise, and the AD curve shifts rightward. C) The interest rate falls, investment falls instead of rising, and the AD curve ends up shifting leftward. D) The interest rate falls, but investment does not respond; there is no change in total expenditures and no shift in the AD curve.
A demand shift to the right generally leads to
A. lower prices and lower quantities. B. higher prices and lower quantities. C. lower prices and higher quantities. D. higher prices and higher quantities.