The official Federal Reserve strategy for implementing its monetary policy objectives is spelled out in the
A. Federal Open Market Committee (FOMC) Directive.
B. Federal Advisory Committee (FAC) Statement.
C. Federal Reserve Bank Cooperative (FRBC) Proposal.
D. Federal Reserve Board (FRB) Decree.
Answer: A
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What does the phrase "internalizing an external cost" mean?
A) forcing producers to factor into their production costs the cost of the externalities created in the production of their output B) finding a way to address cross-border pollution C) limiting the extent to which domestic firms can outsource production D) prohibiting economic activities that create externalities
Due to diminishing marginal returns, the ultimate source of economic growth in the United States from 1949 to 2010 has been
A) capital. B) labor. C) total factor productivity. D) Capital, labor, and total factor productivity are all subject to diminishing marginal returns, and therefore are all equally responsible for economic growth.
An advantage of settling disputes via arbitration rather than court cases is that:
a. the risk of an incorrect decision in the former case is negligible. b. the former is inexpensive and binding. c. the former is more likely to grant a lenient decision. d. the former may be more knowledgeable than an uninformed jury.
Currently, which country emits the largest amount of carbon dioxide (CO2)?
a. United States b. United Kingdom c. China d. Russia