Under the European System of Central Banks, the National Central Banks have the same role as the ________ of the Federal Reserve System
A) Board of Governors
B) Federal Open Market Committee
C) Federal Reserve Banks
D) Federal Advisory Council
C
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Which of the following would you expect to result in faster economic growth?
A) a decrease in research and development spending B) a decrease in the stock of capital per worker C) a decrease in the average level of education in the economy D) the invention of new computers that increase labor productivity
A perfectly inelastic demand curve exhibits
A) zero responsiveness to changes in price. B) zero quantity demanded when there is a slight change in price. C) a change in quantity demanded that is proportional to the change in price. D) a change in quantity demanded that is always twenty percent of the change in price.
Who asserted that "the Federal Reserve's job is to take away the punch bowl just as the party gets going?"
a. president George W. Bush b. president John F. Kennedy c. economist John Maynard Keynes d. former chairman of the Federal Reserve System William McChesney Martin
Consumers gain from trade within a monopolistically competitive industry because:
a. prices fall and product varieties decrease. b. prices rise and product varieties increase. c. prices rise and product varieties decrease. d. prices fall and product varieties increase.