The main policy making body of the Federal Reserve System is the
A) Federal Monetary Conditions Board.
B) Board of Presidents of the Federal Reserve Banks.
C) Board of Governors of the Federal Reserve System.
D) Federal Open Market Committee.
E) Board of Advisors.
D
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During the Revolutionary War, the Pennsylvania legislature attempted to aid the Continental Army by setting wage floors for soldiers in the army.
Answer the following statement true (T) or false (F)
When scarce goods are allocated according to some generally known criteria,
A) no one is discriminated against as long as the criteria are socially and legally accepted. B) people will compete to satisfy the criteria. C) rationing of scarce goods becomes unnecessary. D) surpluses almost inevitably appear.
When the maximizing actions of two economic agents are not aligned, these agents face a(n):
A) coordination problem. B) incentive problem. C) correspondence problem. D) objective problem.
The advantage of an effective exchange rate is
A) it gives us an accurate gauge for the strengthening or weakening of a currency. B) it uses a weighted average of bilateral exchanges based on the country's trading partners. C) unreliable because its using different weights to reflect trade flows. D) A and B.