Members of the Federal Reserve Board of Governors are appointed for one fourteen-year term:
A. In an effort to isolate the Fed from political pressures.
B. So that Fed decisions will be based on political considerations.
C. To give Congress better control over the money supply.
D. In an effort to make the Fed responsive to voters.
A. In an effort to isolate the Fed from political pressures.
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Throughout U.S. history, which of the following sources provided the bulk of funds for railroad construction?
a. the federal government b. state governments c. local governments d. private investors
Which of the following would be included in the gross domestic product (GDP)?
a. The monthly telephone bill paid by Mr. Jones b. The corporate stock purchased by Steven c. The used limousine purchased by Harold d. The bricks purchased by a construction company to build a house e. The $300 George saved because he painted his own garage
An example of a public good is
A. the car I own. B. housing subsidies. C. software produced by Microsoft. D. the fire department.
An increase in output would result in a rise in long-run average costs when there are
A. the law of diminishing marginal product. B. diseconomies to scale. C. constant returns to scale. D. economies of scale.