The Comptroller of the Currency
A) serves as Chairman of the Board of Governors.
B) serves as a member of the Board of Governors.
C) serves as an alternate member of the Board of Governors.
D) does not serve on the Board of Governors.
D
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Fiscal policy is typically
A. difficult to implement quickly. B. extremely flexible, because most government spending is discretionary. C. hard to implement despite the fact that there are not usually implementation problems. D. extremely flexible provided policy lags are short.
Which of the following is an example of comparative statics?
A) The estimation of the supply of a good when the wage rate of labor changes from $30 to $10 per hour B) The estimation of the ideal number of workers a firm should hire when wage rate is $20 per hour C) The estimation of the quantity demanded of a good when its price is $5 D) The estimation of the demand for a particular good when consumer income is $10
In 1981-1983, the world economy suffered a steep recession. Naturally, the fall in industrial countries' aggregate demand had a direct negative impact on the developing countries
What other mechanism was an even more important contributor to this event? A) the immediate steep inflation that followed the recession B) the dollar's sharp depreciation in the foreign exchange market C) the increase in primary commodity prices, increasing terms of trade in many poor countries D) the collapse in primary commodity prices and the immediate, large rise in the interest burden that debtors had to pay E) the influx of defaulting credit
The length of the short-run is the same for all firms
Indicate whether the statement is true or false