Are the members of the Board of Governors of the Federal Reserve System elected officials?
What will be an ideal response?
No, the members are not elected. They are appointed by the president of the United States (for 14-year terms) and confirmed by the U.S. Senate.
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Which of the following is NOT included in the working-age population?
A) discouraged workers B) people waiting to be called back to a job after being laid off C) retirees under the age of 55 D) people in prison
A good or service or a resource is nonrival if
A) it is possible to prevent someone from enjoying its benefits. B) it is not possible to prevent someone from enjoying its benefits. C) its use by one person decreases the quantity available for someone else. D) its use by one person does not decrease the quantity available for someone else.
An increase in the real value of assets is associated with a reduction in planned aggregate expenditures
a. True b. False Indicate whether the statement is true or false
As you move down the production possibility frontier, the absolute value of the marginal rate of transformation
A. increases. B. initially decreases, then increases. C. initially increases, then decreases. D. decreases.