The key decision maker for general Federal Reserve policy is the:
A. Federal Open Market Committee.
B. Board of Governors.
C. Federal Advisory Council.
D. Regional Federal Reserve banks.
B. Board of Governors.
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The first welfare theorem:
A. tells us that, in a general equilibrium with perfect competition, the allocation of resources is Pareto efficient. B. clarifies how the "invisible hand" of the market guides people toward socially undesirable choices. C. tells us that a general equilibrium with perfect competition is not Pareto efficient. D. is also the only welfare theorem.
The 1974 federal legislation that exempted employers from certain state laws governing health insurance was
a. COBRA b. ERISA c. CON d. HIPAA e. SCHIP
Indicate what might be done to restrain the tendency of the democratic process to generate budget deficits?
The horizontal summation of the demands of each consumer at different price levels is called:
A. speculative demand. B. the market demand curve. C. the price elasticity of market demand. D. consumer surplus.