The Federal Open Market Committee:
A. includes all regional bank presidents and the Board of Governors.
B. is the most important policy-making body of the Federal Reserve.
C. is responsible for regulatory oversight and implementation of monetary policy of regional banks.
D. is responsible for monitoring how goods and services are being sold on the open market.
B. is the most important policy-making body of the Federal Reserve.
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In the long run, if price is less than average cost
A) there is an incentive for firms to exit the market. B) there is no incentive for the number of firms in the market to change. C) there is profit incentive for firms to enter the market. D) the market must be in long-run equilibrium.
According to Edward Denison's estimates, the largest proportion of economic growth during the 1929-82 period was
a. growth in the labor input. b. growth in output per unit of input. c. growth in the capital input. d. economies of scale. e. education.
What is the primary function of a bank? Why do people prefer banks over other financial intermediaries?
What will happen if a country uses money creation to finance a large and expanding national debt?
a. Real output and employment will grow rapidly. b. Nominal interest rates will fall. c. The foreign exchange value of the currency will increase. d. The rate of inflation will rise.