The monetary policy-making body of the Federal Reserve is the
A) Federal Open Market Committee.
B) New York Federal Reserve Bank.
C) regional Federal Reserve Banks.
D) Board of Governors.
A
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Mortgage defaults are likely to rise when ________
A) wage rates rise B) unemployment falls C) investment increases D) consumption falls
An economic variable that moves in the opposite direction as aggregate economic activity (down in expansions, up in contractions) is called
A) procyclical. B) countercyclical. C) acyclical. D) a leading variable.
Suppose the insurance company cannot tell them apart but expects them to be different values and charges them an average premium of $1850 . Who is more likely to buy this insurance?
a. Samantha b. Nadia c. Both of them d. None of them
Which statement is correct regarding allocative efficiency in monopolistic competition?
a. When new competitors enter a monopolistically competitive industry, the demand curve for each firm will shift to the left. b. When new competitors enter a monopolistically competitive industry, the demand curve for each firm will shift to the right. c. When new competitors exit a monopolistically competitive industry, the demand curve for each firm will shift to the left. d. When new competitors enter a monopolistically competitive industry, the demand curve for each firm will not be affected.