In the United States, day-to-day decisions about monetary policy are carried out by
A) the Board of Governors.
B) the Chairman of the Board of Governors.
C) the Federal Open Market Committee.
D) the Open Market desk in New York.
E) none of the above
D
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Which of the following are TRUE regarding the argument that trade barriers protect U.S. workers from cheap foreign labor? I. Low-wage foreigners are just as productive as U.S. workers. II. U.S. workers have a comparative advantage in low-wage jobs
A) I only B) II only C) I and II D) Neither I nor II is correct.
The contributive standard (merit standard) for distributing income implies that
A) income should be distributed equally. B) income should be distributed according to need. C) income should be distributed according to the marginal productivity of workers. D) a transfer should be contributed to an individual above his or her contribution to net output.
Either a price floor or a price ceiling will result in a smaller quantity exchanged than if the price was at its equilibrium level
a. True b. False Indicate whether the statement is true or false
Fewer than three percent of families are poor for eight or more years
a. True b. False Indicate whether the statement is true or false