Members of the Federal Reserve Board of Governors
A. are members of the Federal Open Market Committee.
B. frequently need to deal with political pressure.
C. are confirmed by the House of Representatives.
D. are appointed to 4 year terms.
Answer: A
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Refer to Figure 27-1. Suppose the economy is in short-run equilibrium below potential GDP and no fiscal or monetary policy is pursued. Using the static AD-AS model in the figure above, this would be depicted as a movement from
A) A to E. B) C to B. C) B to C. D) B to A. E) A to B.
Suppose the production function is given by Q = 3K + 4L. What is the average product of capital when 10 units of capital and 10 units of labor are employed?
A. 4 B. 3 C. 45 D. 7
The American Recovery and Reinvestment Act of 2009:
A. created a $700 billion rescue package for financial institutions. B. cut taxes by $152 billion, distributed primarily as rebate checks to taxpayers. C. implemented a $787 billion package of tax cuts and government expenditure increases. D. substantially lowered interest rates in an attempt to stimulate investment spending.
Payments made to shareholders of a corporation are called
A. retained earnings. B. common stock. C. corporate bonds. D. dividends.