The number of presidentially appointed members who sit on the Federal Reserve Board of Governors is:
A. none.
B. seven.
C. nine.
D. twelve.
Answer: B
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Vertical integration often aims to
a. Prevent the retailers from defeating upstream price discrimination through arbitrage b. Reward the retailer for undertaking the risk inherent in introducing a new product c. Avoid paying higher taxes d. All of the above
The monetarists totally reject the importance of changes in the money stock as determinants of changes in real GDP, the price level, and employment
a. True b. False Indicate whether the statement is true or false
When the price of a good is below its average variable cost, a perfectly competitive firm is better off ceasing production. In this case, it suffers a loss equal to its _____
a. fixed cost b. average variable cost c. marginal cost d. total variable cost
When the Fed conducts open market operations, the impact of the buying or selling of bonds will include changes in
A) the money supply. B) interest rates. C) the expected rate of inflation. D) a and c E) a, b and c