The policy directive from the FOMC is carried out by
A) the presidents of the district banks.
B) the presidents of commercial banks that are members of the Federal Reserve System.
C) the account manager at the Federal Reserve Bank of New York.
D) private dealers in the bond market.
C
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Explain why many fishermen on a commonly owned lake continue to fish until the revenue from the average catch is equal to the marginal cost of fishing -- and why the same is not true for a firm that employs fishermen to fish on a privately owned lake.
What will be an ideal response?
What are the influences on the supply of U.S. dollars in the foreign exchange market?
What will be an ideal response?
The IS—LM model predicts that a temporary beneficial supply shock
A) increases output, national saving, and investment, but not the real interest rate. B) increases output, national saving, and the real interest rate, but not investment. C) increases the real interest rate, investment, and output, but not national saving. D) increases output, national saving, investment, and the real interest rate.
Public ignorance is generally higher in less democratic countries because:
A. the public is mostly irrational in those countries. B. there is no incentive for the public to be informed in those countries. C. the public receives too much information about how the country runs. D. the public is not well informed as a result of government control or censorship of the media.