The group responsible for deciding on monetary policy is the
A) Federal Advisory Council.
B) Board of Governors only.
C) Federal Open Market Committee.
D) group of 12 Federal Reserve Bank presidents only.
C
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Every transaction concerning the exportation of goods from the United States constitutes a
A) supply of foreign currency with no effect on the market for the dollar. B) demand for dollars with no effect on markets for foreign currencies. C) supply of foreign currencies and a demand for dollars. D) demand for foreign currencies and a supply of dollars.
Suppose the real interest rate in the economy is 3% and the nominal interest rate is 6%, what is the current inflation rate?
a. 18% b. 9% c. 2% d. 3% e. 2.5%
Which one of the following is not a barrier to an efficient allocation of resources?
a. Equity considerations b. Free rider effects c. Transactions costs d. Holdout effects e. Poorly defined property rights
If the government enacts contractionary fiscal policy, it is most likely at which of the following equilibria in the graph shown?
A. A B. B C. C D. D