Which of the following is true about the Fed?
A. It has a lot of power to affect the inflation rate, but not the unemployment rate.
B. It cannot directly affect the economy but it can influence institutions that can affect the economy.
C. It has more power to affect the economy than any other institution.
D. It has no real power since in the long run, money is neutral.
Ans: C. It has more power to affect the economy than any other institution.
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Refer to the above table. How long would it take for a country to triple its GDP if the GDP grew at a 20 percent rate?
A) 10 years B) 6 years C) 4 years D) 2 years
In a open economy, aggregate expenditures are the sum of personal consumption, investment, government, and net export expenditures
Indicate whether the statement is true or false
Which of the following is most accurate about the period between the Civil War and World War I?
a. An increasing share of the U.S. population lived in rural areas. b. Unions pursued strategies of peaceful negotiation with employers. c. The average number of hours of work increased significantly during the period. d. The difference between male and female wages decreased.
Jason is a salesman who gets 40 percent of the revenue he generates for his company. This is an example of payment by _____
a. piece rent b. fixed salary c. executive compensation d. share contract