Which of the following is not correct?
a. The president of the New York Federal Reserve bank is the only Federal Reserve Regional Bank President who gets to vote at every meeting of the Federal Open Market Committee.
b. The Fed's policy decisions influence the economy's rate of inflation in the short run and the economy's employment and production in the long run.
c. The Fed's primary monetary policy tool is open-market operations.
d. All of the above are correct.
b
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If the short-run Phillips curve shifts rightward, what happens to the tradeoff between inflation and unemployment? If the short-run Phillips curve shifts leftward, what happens to the tradeoff between inflation and unemployment?
What will be an ideal response?
The government is considering levying a tax on the pollution generated from two electric power plants (Plant A and Plant B)
Plant A is located in a city with a high density of population, and Plant B is located in the rural area with a low density of population. The government should A) levy the same tax per unit of pollution on both plants. B) levy a higher tax per unit of pollution on Plant A because of its higher economic damage. C) levy a higher tax per unit of pollution on Plant B because of its lower economic damage. D) tax only Plant A but not Plant B because Plant B generates less revenue.
In the sequential negotiation games:
a. You can induce a change in the strategy in your opponent only if your threat is believed b. Any threat can induce a change in strategy in your opponent c. The best threat is the one that you do not have to carry out d. A and C
Inflation is defined as an increase in:
a. real wages of workers. b. real GDP. c. the average price level. d. all consumer products.