The Federal Reserve____
a. operates independently from Congress and the President
b. consists of representatives who are elected by the American people
c. is an agency of the US Treasury Dept, which falls under the Executive Branch of govt
d. all
Ans: a. operates independently from Congress and the President
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When someone sells a bond at a discount, the holder of the bond earns ________ with the purchase
A) a capital gain B) a capital loss C) market value D) interest
Jimmy Carter, Ronald Reagan, and Gerald Ford are all U.S. presidents whose political careers were helped by inflation
a. True b. False Indicate whether the statement is true or false
The price paid by buyers in a market will increase if the government
a. decreases a binding price floor in that market. b. increases a binding price ceiling in that market. c. decreases a tax on the good sold in that market. d. imposes a binding price ceiling in that market.
Which of the following is a characteristic of monopolistic competition?
a. ownership of a key resource by a single firm b. free entry c. identical product d. patents