The entity that carries full responsibility for setting the overall direction of monetary policy and guiding the money supply is the:
A. Federal Open Market Committee.
B. Federal Reserve Chairman.
C. Board of Governors.
D. regional bank presidents' cabinet.
A. Federal Open Market Committee.
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Suppose we have an economy in which G = 1100, t = 0.26, Y = 3800, and YN = 4000. At Y, the actual deficit is
A) 60. B) 200. C) 112. D) 286. E) -60.
Which of the following statements is true?
a. In the case of positive externalities, a private market will produce too little of a good compared to the socially efficient level of output. b. In the case of positive externalities, a private market will produce too much of a good compared to the socially efficient level of output. c. Negative externalities occur when benefits accrue to individuals not directly involved in a transaction. d. Positive externalities occur when costs are imposed on individuals not directly involved in a transaction. e. In the case of negative externalities, a private market will produce too little of a good compared to the socially efficient level of output.
Why do monopolies lack productive efficiency?
a. Because barriers to entry eliminate competition b. Because they produce at the bottom of the average cost curve c. Because investments in innovation are costly d. Because they are unable to achieve economies of scale
In the area of taxation, the trade-off between equity and efficiency
A. never occurs since efficient taxes are often the most progressive. B. is relevant as efficient taxes are often regressive. C. is irrelevant. D. is relevant because efficient taxes are often progressive.