Who determines the open-market operations of the Federal Reserve System?
A) Board of Governors
B) FDIC
C) FHLBB
D) FOMC
D
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According to the party cycle theory, recessions
a. will be nonexistent in the near future. b. are most apt to occur when a liberal president is elected. c. are most likely to occur during the first couple of years following the election of a conservative president. d. are here to stay.
Both price floors and price ceilings lead to
a. shortages. b. surpluses. c. reductions in quality. d. a reduction in the quantity traded.
The money multiplier is much lower today than it was twenty-five years ago because:
A. people are holding less currency today. B. credit cards are more widely used. C. there is less currency available today. D. the currency-to-deposit ratio is much higher today.
Special interest groups are subsets of __________ that hold (usually) intense preferences for or against a particular government service, activity, or policy
A) the general population B) bureaucrats C) elected officials D) candidates for political office E) all of the above