Which of the following is not a function of the Federal Reserve System?
A. to control the money supply
B. to print new money
C. to supervise and regulate banks
D. to aid in the check clearing process
Answer: B
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Refer to the figure above. When the monopolist is free to set the price, ________
A) it makes a profit of $150 B) it makes a loss of $150 C) it makes a profit of $300 D) it makes a loss of $300
Ceteris paribus, in a closed economy, if consumers become more optimistic ________
A) autonomous consumption would decrease B) the equilibrium interest rate should increase C) saving should increase D) all of the above E) none of the above
Refer to the above table. If the price is $6, the perfectly competitive firm should produce
A) 104 units. B) 105 units. C) 106 units. D) 107 units.
Who was one of the first proponents of employing market economies instead of command economies?
a. Robert Heilbroner. b. Karl Marx. c. Jeffrey Sachs. d. Adam Smith.