A member of the Board of Governors of the Federal Reserve is appointed by
a. Congress for 12 years.
b. the President, with the advice and consent of the Senate, for a 14-year term.
c. the President, for life.
d. members of the House of Representatives for a 10-year term.
B
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What is the antithesis of the rule of law?
A) Arbitrary governance B) Governance according to the will of whoever is in charge C) Both of the above. D) None of the above.
A bank is insolvent when
A) its liabilities exceed its assets. B) its assets exceed its liabilities. C) its capital exceeds its liabilities. D) its assets increase in value.
If monetary policy is used to control GDP, there is greater sacrifice of long-run economic growth in pursuing short-run stabilization the ________ is fiscal policy and thus the ________ is the real interest rate
A) tighter, higher B) tighter, lower C) easier, higher D) easier, lower
Minimum-wage laws are one reason there is always some unemployment in the U.S. economy
a. True b. False Indicate whether the statement is true or false