The part of the Federal Reserve System that determines monetary policy actions is the
A. Federal Open Market Committee.
B. Federal Deposit Insurance Corporation (FDIC).
C. Comptroller's Office.
D. District Bank Board.
Answer: A
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Which of the following stands true for factors that affect changes in productivity across countries and over time?
a. It is more difficult to measure changes in the quality of goods than changes in the quality of services. b. As energy prices go up, energy-efficient capital goods become obsolete. c. It is believed that productivity grows more slowly in manufacturing industries than in services, because of the less labor-intensive nature of manufacturing industries. d. The key to efficient production is the allocation of resources to their best use. e. The greater the productivity, the more efficient the allocation of resources, and the less developed a country's financial market would be.
Which of the following would likely cause aggregate demand to shift to the left?
A. Decreased income taxes B. Increased government spending C. Decreased consumer confidence D. increase in investors' confidence.
If a natural disaster were to cause a negative long-run supply shock to the economy, once the economy adjusts, the new equilibrium will be at a:
A. higher price level and lower level of output. B. lower price level and lower level of output. C. higher price level and higher level of output. D. lower price level and higher level of output.
An excise tax is a tax that is levied on
A. the value of an estate. B. the purchase of a given good or service. C. the value of a piece of property. D. that part of a person's income coming from interest payments.