Federal Reserve Board Chairmen Paul Volcker, as well as later Fed chairs, focused on which of the following as their main goal of monetary policy?
A) high employment
B) price stability
C) economic growth
D) stability of financial markets
Answer: B
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Refer to the above table. Which variables in the table are NOT autonomous?
A) planned consumption and planned saving B) planned saving only C) taxes, government spending, and saving D) planned investment, net exports, and government spending
How is a politician similar to an entrepreneur?
A) Each advances a project solely in the public interest. B) Each advances a project only if the expected marginal benefits equal the expected marginal costs. C) Each advances a project only if the expected marginal benefits exceed the expected marginal costs. D) Each advances a project only if they impose no negative externalities.
Overfishing and extinction of species arise because of:
a. an abundance of natural resources. b. communist countries. c. the lack of incentive to take care of these species. d. private ownership of these resources. e. a high degree of economic freedom in all countries.
Structural unemployment can be caused by all of the following EXCEPT:
A) minimum wages. B) labor unions. C) efficiency wages. D) fluctuations in the business cycle.