The majority of members of the Federal Open Market Committee are
A) Federal Reserve Bank presidents.
B) members of the Federal Advisory Council.
C) presidents of member banks.
D) the seven members of the Board of Governors.
D
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Comment on the following: "Present-biased people are impatient, but impatient people don't necessarily have to be present-biased."
What will be an ideal response?
The game in Scenario 13.10 is
A) variable-sum. B) constant-sum. C) cooperative. D) a Prisoners' Dilemma. E) a Cournot Production Cross.
Interest rates are determined by the
A. market supply and demand for loanable funds. B. rental rate of capital. C. marginal revenue product of physical capital. D. physical depreciation of capital.
A kinked demand curve is perceived by the firm as being:
A. more elastic to the right of the kink B. more inelastic to the right of the kink C. more inelastic to the left of the kink D. present when there is a monopoly