To make sure the U.S. President cannot unduly influence the Board of Governors:
A. the terms of the governors are staggered.
B. only three governors can be replaced in any one year.
C. the law prevents a resident from appointing more than one governor.
D. the terms of the governors are ten years long.
Answer: A
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The figure above shows the market for fast food restaurant employees in a college town in a small nation to the East. The local Taco Bell pays its workers $12 an hour. This wage rate is
A) designed reduce the unemployment rate. B) an effort to increase the demand for labor. C) illegal because the equilibrium wage rate is $6 an hour. D) an efficiency wage aimed at reducing employee turnover. E) the actual equilibrium wage rate.
In the traditional Keynesian model, a tax cut
A) causes the C + I + G + X line to shift upward. B) causes the C + I + G + X line to shift downward. C) causes a movement along the C + I + G + X line. D) does not affect the C + I + G + X line.
A variety of statistical studies based on the U.S. experience suggests that when government borrowing increases by $1, private saving rises by about
a. 10 cents. b. 30 cents. c. 50 cents. d. $1.
If the supply of dollars in the market for foreign-currency exchange shifts left, then the exchange rate
a. rises and the quantity of dollars exchanged falls. b. rises and the quantity of dollars exchanged does not change. c. rises and the quantity of dollars exchanged rises. d. falls and the quantity of dollars exchanged does not change.