Average total cost is
A. TFC + TVC.
B. AFC/AVC.
C. AFC - AVC.
D. AFC + AVC.
Answer: D
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The purpose of having the members of the Board of Governors of the Federal Reserve serve fourteen-year terms is to
A) establish long-standing ties with high-level officials of other nations' central banks. B) ensure that the governors become well-experienced at policymaking. C) promote unity of opinion from shared time together. D) insulate the governors' policy decisions from the influence of presidential elections and politics.
A market exchange rate which has been adjusted for inflation is called a
A) nominal exchange rate. B) foreign market price index. C) real exchange rate. D) domestic exchange factor.
Central banks get the purchasing power to buy government securities by:
a. Increasing their liabilities in the form of deposits from banks. b. Reducing currency in circulation. c. Making discount loans to banks. d. Taking loans from the government. e. All of the above.
An example of an adverse inflation shock is:
A. a tax increase. B. a significant rise in oil prices. C. an increase in government purchases. D. an increase in interest rates.