Each governor of the Federal Reserve is
A) appointed by the President to a 4-year term.
B) appointed by the President to a 14-year term.
C) appointed by the President for life.
D) elected by the Presidents of banks and savings institutions.
B
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A number of economic historians have attempted to determine whether US railroads were built ahead of demand. Which of the following statements presents accurate information about the findings of this area of research?
a. Fogel and Mercer found that post-bellum transcontinental had relatively low initial profit rates that grew over time. b. According to Fishlow, antebellum railroads were built ahead of demand, but post-bellum transcontinentals were not. c. Fishlow finds that government aid to antebellum railroads was generous and widespread. d. Mercer finds that rates of return on all post-bellum transcontinental railroads were less than rates on alternative investments.
Which of the following countries have the highest per person income levels?
a. Argentina, Brazil, and Mexico b. China and India c. France and Germany d. Ireland, Norway, and the United States
In order for a price ceiling to have an impact on a market it must be set above the equilibrium price
Indicate whether the statement is true or false
Most loopholes in the income tax system
A. are more likely to be exploited by the wealthy. B. make it more progressive. C. were created by the tax reforms instituted in 1986. D. do not affect the economic decisions of the people who benefit from them.