The current chair of the Board of Governors of the Federal Reserve System is
A. Jerome Powell.
B. Ben Bernanke.
C. Janet Yellen.
D. Alan Greenspan.
Answer: A
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The quantity of reserves held by a bank in addition to the legally required amounts is known as
a. actual reserves b. excess reserves c. the legal reserve requirement d. the potential money multiplier e. the monetary base
Which of the following is true about the market supply for resources?
a. The market supply curve of a resource reflects the maximum willingness-to-pay for all firms purchasing resources in the resource market. b. The market supply curve of a resource is derived from the value of the final goods and services produced with the resource. c. The market supply curve of a resource slopes upward because higher resource prices draw resources from lower-valued uses, and because suppliers are able to supply more of the resource at a higher price. d. The market supply curve of a resource slopes downward because suppliers are able to supply less of the resource at a higher price.
Which of the following statements regarding economic regulation is TRUE?
A) Economic regulation has failed by insisting that firms must be allowed to earn a normal rate of return. B) Rate-of-return regulation has been much more effective than cost-of-service regulation. C) Economic regulation deals only with rates of return, and not with prices. D) Economic regulation deals mainly with prices firms charge, but firms can alter their return by altering quality of service, effectively raising the price per constant-quality-unit.
Explain what effect an increase in future expected output will have on the IS curve and LM curve in the current period
What will be an ideal response?