Which of the following is considered by experts to have relatively little power within the Federal Reserve?
A) The Board of Governors
B) The president of the New York Federal Reserve Bank
C) The economic staff of the Board of Governors
D) The Federal Advisory Council
D
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When Jamie purchases a classic 1968 Plymouth Cuda convertible from Shane, GDP
A) does not change, because the car was not produced this year. B) increases, because the car is a durable good and increases consumption. C) increases, because the car is a durable good and increases investment. D) does not change, because Jamie did not buy the car from a dealershi
Binding price floors cause a surplus in the market
a. True b. False Indicate whether the statement is true or false
Oil producers expect that oil prices next year will be higher than oil prices this year. As a result, oil producers are most likely to
A) place more oil on the market this year, thus shifting the present supply curve of oil rightward. B) hold some oil off the market this year, thus shifting the present supply curve of oil leftward. C) place more oil on the market this year, thus increasing the quantity supplied of oil at lower but not higher prices. D) hold some oil off the market this year, thus decreasing the quantity supplied of oil at lower but not higher prices.
An appropriate fiscal policy for a severe recession is:
A. a decrease in government spending. B. a decrease in tax rates. C. appreciation of the dollar. D. an increase in interest rates.