Which statement about the Federal Reserve Board of Governors is true?
a. The members of the Board of Governors are appointed every four years.
b. The chair of the Board of Governors is usually a career politician.
c. Members are appointed by the president with Senate approval.
d. Members are democratically selected by the 12 banks that make up the Fed.
c. Members are appointed by the president with Senate approval.
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A fiduciary monetary system is
A) fully backed by gold. B) dependent on barter for exchanges of goods and services. C) dependent on the public's faith to accept the currency. D) one which cannot have any inflation.
For the price in a market to remain the same, while the quantity traded fell, both supply and demand would have to shift to the left
a. True b. False Indicate whether the statement is true or false
In the rational expectations model, government control over aggregate demand
A. can affect real output only if policies are unexpected. B. has potential to change real output as long as aggregate supply is vertical. C. gives it the ability to change real output and employment. D. does not influence the economic behavior of individuals.
The multinational organization that aims to promote world economic growth by fostering financial stability is the
A. World Bank. B. International Monetary Fund. C. World Trade Organization. D. United Nations.