What is the length of a term for the Chairman of the Board of Governors?
A) one year
B) four years
C) 14 years
D) 28 years
B
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What is the basic task that economists expect the market to carry out?
A. Deal with the fundamental problem of scarcity B. Balance the government’s budget C. Lessen wants to the level of income available D. Meet all human wants
The monetary base does NOT include which of the following items?
i. Federal Reserve notes ii. banks' reserves at the Federal Reserve iii. U.S. government securities owned by the Federal Reserve A) i only B) ii only C) iii only D) both i and ii E) both ii and iii
Economists regard some inflation as good for the economy
a. True b. False
The quantity of reserves that banks must hold against deposits is called
A) the reserve ratio. B) excess reserves. C) total reserves. D) required reserves.