Answer the following statements true (T) or false (F)
1. Monetarists argue that the Fed reduces fluctuations in economic activity and the price level.
2. The Fed chairman appears before Congress semi-annually to present the Monetary Policy Report.
3. The Fed used the Term Auction Facility in 2008 to aid bond dealers.
4. The Reigle-Neal Act was passed by Congress in 1932 to regulate banking.
5. Branch banking can now be carried out regionally and even nationally.
1. FALSE
2. TRUE
3. TRUE
4. FALSE
5. TRUE
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Which population category equals the sum of employed and unemployed people?
A) working-age population B) labor force C) young and institutionalized D) not in the labor force
The temptation of imperfectly-monitored workers to shirk their responsibilities is
a. an example of the moral hazard problem. b. an example of the adverse selection problem. c. an example of screening. d. an example of signaling.
Consider the hypothetical supply and demand of Kidneys.
Initially, kidneys are exchanged by donations only (price=0). If the government decides to legalize kidney sales and the market reaches equilibrium, then:
A. consumer surplus remains the same. B. total surplus increases. C. a shortage of kidneys will arise. D. producer surplus remains the same.
What economic concept is exemplified by an employer offering tuition reimbursement to employees who are continuing their education?
a. marginal benefit b. marginal cost c. positive incentive d. negative incentive