Why does the Federal Reserve System have a high degree of political independence?
(A) The system has only advisory power.
(B) The system is owned by the banks.
(C) It is divided into geographical districts.
(D) The governors are appointed for life terms.
Ans: (B) The system is owned by the banks.
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The natural rate of unemployment is defined as the rate of unemployment that
A) exists only during periods of recession or depression in the economy. B) exists due to welfare and unemployment benefits that reduce potential workers' incentives to find work. C) prevails in long-run macroeconomic equilibrium, when all workers and employers have fully adjusted to any changes in the economy. D) prevails in the short-run macroeconomic equilibrium, before workers and employers have had a chance to adjust to an economic shock.
Differentiate between a payoff matrix and a game tree
What will be an ideal response?
Describe the background factors that contributed to the Asian financial crisis
What will be an ideal response?
Transfer payments are cash payments made by ________ directly to ________.
A. the government; households B. households; firms C. firms; households D. firms; the government