In practice, the Board of Governors and FOMC typically defer to the policy proposals of the:
A) President
B) Chair of the Fed
C) Secretary of Treasury
D) Speaker of the House
B
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
In the figure above, when the price of a disk is $B, total revenue is shown in the graph by area
A) BCF0. B) AGF0. C) FCDE. D) ADE0.
The curve in the above figure shows alternative combinations of gasoline and coffee that Sam likes equally well. This curve is called
A) a budget line. B) a demand curve. C) a consumption curve. D) an indifference curve.
If a monopolist can perfectly price discriminate, it will
A) charge the same price for each unit sold. B) produce until price elasticity of demand equals one. C) not be concerned with the market demand. D) charge a different price for every unit sold.