The Board of Governors of the Fed:
A. consists of seven state governors who represent the views of individual states in monetary policy.
B. consists of seven members appointed by the President of the United States, who together act as the key decision-making entity for monetary policy.
C. consists of 13 large commercial bank CEOs who represent the interests of the private banking sector in monetary policy.
D. is the primary monetary group responsible for buying and selling bonds designed to change reserves in the banking system.
The Board of Governors is the key decision maker for monetary policy.
B. consists of seven members appointed by the President of the United States, who together act as the key decision-making entity for monetary policy.
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Demand and supply can also be used to explain how economic events will cause ___________ in prices, wages, and rates of return.
a. changes b. freezes c. barriers d. locking
Demand-pull inflation occurs when the factor contributing most to rising prices is decreased demand for goods and services
Indicate whether the statement is true or false
The amount of unemployment that an economy normally experiences is called the
a. average rate of unemployment. b. natural rate of unemployment. c. cyclical rate of unemployment. d. typical rate of unemployment.
Contractionary fiscal policies used to reduce the deficit in the 1990s did not hurt the economy because fiscal and monetary policies were well coordinated at that time.
Answer the following statement true (T) or false (F)