Which of the following statements is correct regarding the Fed?
a. Under the Federal Reserve System, there is one Federal Reserve Bank, located in Washington D.C
b. Under the Federal Reserve System, there is one Federal Reserve Bank whose location changes every 14 years.
c. Under the Federal Reserve System, there is a Federal Reserve Bank in each Congressional district.
d. Under the Federal Reserve System, there is a Federal Reserve Bank in each state.
e. Under the Federal Reserve System, there are 12 Federal Reserve banks, one in each of the 12 Federal Reserve districts.
e
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An economy is at a short-run equilibrium as illustrated in the above figure. An appropriate fiscal policy option to move the economy to full employment is to
A) lower the interest rate by increasing the quantity of money and move the economy to a full-employment equilibrium at point b. B) increase government expenditure and move the economy to a full-employment equilibrium at point b. C) increase tax rates and move the economy to a full-employment equilibrium at point c. D) increase government expenditure and move the economy to a full-employment equilibrium at point c. E) increase tax rates and move the economy to a full-employment equilibrium at point b.
A cartel is an organization of firms in which there is a dominant firm which dictates price and output decisions to other member firms
a. True b. False Indicate whether the statement is true or false
One way for the federal government to maintain milk price supports (price floor) is to purchase the surplus milk, that results when the support price is higher than the market equilibrium price. Thus consumers pay both an artificially high price for milk, and as taxpayers, they also pay for the surplus milk
Indicate whether the statement is true or false
One of the major insights by economist John Maynard Keynes about inventories and demand was that if planned inventories:
A. < actual inventories then demand was lower than anticipated. B. > actual inventories then demand was lower than anticipated. C. = actual inventories then demand was higher than anticipated. D. > actual inventories then demand was higher than anticipated.