Central bank independence refers to the central bank’s ability to make decisions without political interference.
Answer the following statement true (T) or false (F)
True
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When output is above the full employment level of real GDP, the Federal Reserve banks should ________.
A. lower the federal funds rate B. buy bonds C. raise the discount rate D. lower the reserve ratio
When a nation reduces the barriers to international trade:
A. each individual citizen becomes worse off. B. the total value of all goods and serviced produced by the nation rises. C. each individual citizen becomes better off. D. the total value of all goods and services produced by the nation falls.
Relative poverty
A) has been eliminated in the United States. B) will always be with us. C) has never existed in the United States. D) can be eliminated in the next 20 years.
What is a marginal benefit?
What will be an ideal response?