The president has influence on Federal Reserve policy because
A. he can veto any Fed policy.
B. he appoints the board members and the chair.
C. he can fire the chair.
D. he can replace board members at any time.
Answer: B
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If an alternative provides a benefit of $8 to an individual at a cost of $6, the net benefits of the alternative equal:
A) $0.75. B) $48. C) $2. D) $14.
Between 1875 and 1895,
a. wholesale farm prices fell and consumer prices rose. b. wholesale farm prices rose slightly, but consumer prices rose more rapidly. c. wholesale farm prices and consumer prices fell, but wholesale farm prices fell more rapidly. d. wholesale farm prices fell while consumer prices remained generally unchanged.
The statement "What the economy needs is a good war" is a perverse way of acknowledging that
a. patriotism is an important factor influencing people's acceptance or rejection of specific political parties and that these parties affect national economic performance b. over-population can ignite a population-induced business cycle c. wars require new technology, illustrating the idea that necessity is the mother of invention d. governments can be a cure worse than the disease e. war generates new and multiple demands for goods in the economy and that can jump start an economy that is in a recession into its recovery phase
If the real interest rate is 5 percent and the inflation rate is 2 percent, then the nominal interest rate is 7 percent
a. True b. False Indicate whether the statement is true or false