The Chairman of the Fed is appointed by ________
A) the Board of Governors of the Federal Reserve System
B) the President of the United States
C) Congress
D) the U.S. Senate
B
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What do Keynesians mean when they say that "you can't push on a string"?
A) An increase in the supply of goods does not really create its own demand. B) If the government reduces taxes in an attempt to increase household consumption, it will not always work. C) An increase in the money supply will not always stimulate the economy. D) If the government wants to get something done, the best way is not to force the issue, but to offer incentives. E) If the government puts too much expansionary pressure on the economy, it will probably "overheat."
Other things the same, a decrease in the price level makes the dollars people hold worth
a. more, so they can buy more. b. more, so they can buy less. c. less, so they can buy more. d. less, so they can buy less.
The command-and-control approach to pollution reduction
A. Lowers market prices. B. Lowers private marginal costs. C. Stimulates production. D. May be less efficient than a market-based option.
If the price of a car in the United States is $22,000, and the exchange rate between the dollar and the Japanese yen falls from 125 yen to 105 yen per dollar, then the price of the American car in Japan will
A. rise. B. fall. C. remain the same. D. be irrelevant, because the Japanese government will impose restrictions on imports from the United States.