In terms of informal power within the Federal Reserve, which of the following groups do experts regard as the most powerful?
A) The Federal Advisory Council
B) The economic staff of the U.S. Department of Commerce
C) The economic staff of the Board of Governors
D) Federal Reserve Bank directors
C
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In the work-leisure model, suppose consumption and leisure are both normal goods. The income effect of a wage increase results in the worker choosing to
a. work less than before. b. work more than before. c. possibly work more or less than before. d. work more with a higher level of consumption.
Which of the following about IS relation is not correct?
A) It is the the relation between interest rate and savings. B) It is the equilibrium condition for the goods market. C) It stands for "Investment equals saving." D) It shows what firms want to invest must be equal to what people and the government want to save.
The estimated fiscal burden of illegal immigrant households in the United States is:
A. $800 million per year. B. $20 billion per year. C. $50 billion per year. D. $4.5 billion per year.
The sale of Treasury securities by the Federal Reserve will, in general,
A) decrease the quantity of reserves held by banks. B) not change the money supply. C) not change the quantity of reserves held by banks. D) increase the quantity of reserves held by banks.