Explain how the Fed's structure provides a high degree of independence from the U.S. government. What are some of the benefits of this independence?
The members of the Board of Governors are appointed for 14 year terms. As such, members will not face reappointment from the president who initially appointed them. This allows the Board of Governors to apply appropriate monetary policy without worrying about pleasing the executive or the public. This independence can be particularly beneficial allowing the Fed to conduct policy that will limit inflation.
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In the above table, when 200 brownies are produced
A) marginal social benefit is greater than marginal social cost, and resource use is efficient. B) marginal social benefit is greater than marginal social cost, and there is a deadweight loss. C) marginal social benefit equals marginal social cost, and resource use is efficient. D) marginal social benefit is less than marginal social cost, and there is a deadweight loss.
There is no way that externalities can be corrected
a. True b. False Indicate whether the statement is true or false
Recall the Application about the supply of shipping services to answer the following question(s).According to the Application, at a relatively low freight rate, only the ________ efficient ships operate, and they save on cost by traveling at a ________ speed.
A. most; fast B. most; slow C. least; fast D. least; slow
The European Currency Unit (ECU) acted as a means of payment
Indicate whether the statement is true or false