Which of the following is NOT considered one of the four groups in the Federal Reserve System?
A) Federal Reserve banks
B) Federal Deposit Insurance Corporation
C) Board of Governors
D) Federal Open Market Committee
B
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Economists and psychologists are often on opposite sides of the economic growth debate. The nature of the debate is such that
A. economists emphasize the benefits of growth to finance valuable programs, and psychologists question whether more goods make people happier. B. economists emphasize that more money means more income for the government, and psychologists believe poorer people are happier. C. economists believe that economic growth imposes no serious costs on the economy, and psychologists question the statistical reliability of GDP numbers. D. economists stress the importance of money relative to leisure, and psychologists stress the importance of an unstructured life.
A country must adjust its economy, to maintain an exchange rate, when it is using:
A. fixed exchange rates. B. monetary policy. C. fiscal policy. D. flexible exchange rates.
Which of the following is NOT a reason financial regulation and supervision is difficult in real life?
A) Financial institutions have strong incentives to avoid existing regulations. B) Unintended consequences may happen if details in the regulations are not precise. C) Regulated firms lobby politicians to lean on regulators to ease the rules. D) Financial institutions are not required to follow the rules.
Economics is the study of choice under conditions of
a. demand b. supply c. scarcity d. opportunity e. abundance