The Board of Governors of the Federal Reserve is part of a larger policy-making group called the
A) Senate Banking Committee.
B) Federal Deposit Insurance Corporation.
C) American Banking Association.
D) Federal Open Market Committee.
D
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How did the original focus of the IMF differ from that of the World Bank?
A) The IMF provided short-term loans and the World Bank provided long-term loans. B) The IMF assisted wealthy nations and the World Bank assisted developing nations. C) The IMF gave grants to developing countries and the World Bank made loans. D) The IMF dealt in North and South America only, and the World Bank dealt with the rest of the world.
If the average price level increases 10 percent per year, and the velocity of money is 2, then the:
A. inflation rate is 10 percent. B. inflation rate is 5 percent. C. inflation rate is 2 percent. D. inflation rate is 20 percent.
GDP is not a perfect measure of welfare because it
a. treats a dollar spent on candy bars the same as a dollar spent on education b. treats a dollar spent on exports the same as a dollar spent on imports c. double counts the value of leisure time d. double counts depreciation e. counts illegal activities in the underground economy
If the market share of the largest firm in an industry is 50%, then theoretically, the highest possible Herfindahl-Hirschman Index for this industry would be
A. 2,500. B. 5,000. C. 10,000. D. 25,000.