Which of the following is not part of the Federal Reserve System?
a. Council of Economic Advisors.
b. Board of Governors.
c. Federal Open Market Committee.
d. 12 Federal Reserve District Banks.
e. Federal Advisory Council.
a
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Use the above figure. Refer to the above diagram where curves (a) through (d) are for four different countries. Income is most unequally distributed in
A) Country A. B) Country B. C) Country C. D) Country D.
If a newspaper reporter wanted to learn about changes in the U.S. price levels, she would probably get that information by looking at the
a. real gross domestic product b. consumer price index c. latest press release from the Council of Economic Indicators d. nominal gross domestic product e. gross national product
Which of the following is true of deadweight loss?
a. It occurs when taxes are imposed on a market b. It occurs when there is a surplus in a market. c. It occurs when there is a shortage in an economy. d. It occurs when there is a budget deficit in an economy.
Figure 14-2
If the Fed anticipates that the conditions illustrated by AD1 and SRAS in will be present in the near future, it should
a.
shift to a more restrictive policy.
b.
shift to a more expansionary policy.
c.
request that Congress raise tax rates.
d.
refuse to buy any more U.S. securities.