Why do Federal Reserve Board of Governors have long (14 year) terms?
Long terms allow Fed Board of Governors independence from short-term political pressures when formulating monetary policy.
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If new government regulations designed to protect wetlands remove very productive farmland from production, then the production possibilities frontier will shift inward
a. True b. False Indicate whether the statement is true or false
Among possible union strategies, the one that can both raise wages and add to employment is
A. restricting the supply of workers. B. raising the demand curve for the product or for labor. C. fixing the wage. D. striking frequently.
Which of the following would be most likely to induce Congress and the president to conduct contractionary fiscal policy? A significant
A) decrease in oil prices. B) increase in labor productivity. C) increase in inflation. D) decrease in real GDP.
The relative price of a good is that price
A) expressed in today's dollars. B) expressed in constant 2012 dollars. C) expressed in terms of the price of another good. D) that is equal to the equilibrium price.