The Federal Reserve System was founded in:
A. 1913.
B. 1929.
C. 1933.
D. 1935.
Answer: A
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Some economists believe that a positive aggregate demand shock to an economy with large amounts of excess capacity and unemployment does not necessarily cause an increase in prices. Economists who adhere to this belief are followers of
A) Keynesian economics. B) Say's laws of economics. C) classical economics. D) supply-side economics.
An innovation that blurred the distinction between brokerage firms and commercial banks was Merrill Lynch's development in 1977 of the
A) cash management account. B) money market mutual fund. C) individual retirement account. D) discount brokerage.
What are the two possible causes of market failure?
The difference between GNP and GDP is explained by:
(a) Exports and imports; (b) The level of investment; (c) Net factor income from abroad; (d) None of the above.