What are the three books to which the FOMC has access and what information is included in each?
What will be an ideal response?
The greenbook contains a national economic forecast for the next two years. The bluebook contains projections of monetary aggregates and other information useful in providing context for alternative monetary policies. The beige book contains summaries of economic conditions in each district.
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If, for the United States, exports are $450, imports are $320, net income from foreign investments is -$60, and net transfers from abroad is -$50, then the U.S. current account has a
A) deficit of $430. B) deficit of $110. C) surplus of $20. D) surplus of $130.
If the nation's capital stock increases so that workers become more productive, the
A) demand for labor will increase. B) supply of labor will increase. C) demand for labor will decrease. D) supply of labor will decrease.
The manufacturer of Beanie Baby dolls used quarterly price data for 2005 I - 2013 IV (t = 1, ..., 36) and the regression equationPt = a + bt + c1D1t + c2D2t + c3D3tto forecast doll prices in the year 2014. Pt is the quarterly price of dolls, and D1t, D2t, and D3t are dummy variables for quarters I, II, and III, respectively.
What is the estimated intercept of the trend line in the 4th quarter?
A. 18 B. 22.8 C. 20 D. 16 E. none of the above
Which of the following correctly orders, highest to lowest, the relative magnitudes of U.S. spending by businesses on components of R&D?
A. Invention, basic research, innovation. B. Invention, innovation, basic research. C. Innovation, invention, basic research. D. Basic research, invention, innovation.