What is the goal of monetary policy?
What will be an ideal response?
The goal of monetary policy is to stabilize the economy to promote price-level stability, full employment and economic growth.
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A "company town" is one in which:
A. a single company directly regulates and monitors all town activity. B. a single company employs the great majority of people in a town and owns most structures in the town. C. the company directs most town business by assisting local government. D. all employees of a company live within its confines.
The Federal Open Market Committee consists of the seven members of the ________, the president of the Federal Reserve Bank of New York, and ________
A) Federal Reserve's Board of Governors; four members of the Council of Economic Advisors B) Federal Reserve's Board of Governors; four presidents from the other 11 Federal Reserve banks C) Council of Economic Advisors; four presidents from the 11 Federal Reserve banks D) Council of Economic Advisors; four members of the U.S. Banking Committee
Which of the following statements about economic resources is false?
A) Economic resources include financial capital and money. B) Economic resources are also called factors of production. C) Economic resources are used to produce goods and services. D) Some economic resources are human-made while others are found in nature.
An economy that doesn't interact economically with the rest of the world is called ________ economy
A) a closed B) an open C) a surplus D) an authoritarian