Which one of the following is true about the U.S. Federal Reserve System?
A. There are 12 Federal Reserve Districts.
B. The Open Market Committee is smaller in size than the Federal Reserve Board.
C. There are 14 members of the Federal Reserve Board.
D. The head of the U.S. Treasury also chairs the Federal Reserve Board.
Answer: A
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In preparing their estimates of the stimulus package's effect on GDP, Obama administration economists estimated a government purchases multiplier of 1.57
Economist Robert Barro argues that ________, the government purchases multiplier would be lower than the administration's estimate, and economists Lawrence Christiano, Martin Eichenbaum, and Sergio Rebelo argued that ________, the multiplier would be higher than the administration's estimate. A) during wartime; when short-term interest rates are near zero B) during a recession; when the inflation rate is relatively low C) when the unemployment rate is high; when the value of the dollar is depreciating against foreign currencies D) when the federal budget is in surplus; when government transfer payments are declining
Open market operations generally involve
A) the Fed making discount loans to depository institutions. B) the Fed buying and selling common stock in order to affect the liquidity of the stock market. C) the Fed buying and selling U.S. government securities. D) private investors buying and selling securities directly on exchanges, rather than through brokers.
Refer to the table below. If the attorney reviews 53 patents, what is the expected marginal benefit of reviewing the 53rd patent?
The above table shows the quantity of patents reviewed by a firm's attorney and the corresponding probability that the firm will infringe on another firm's patent. The cost of infringement is $50,000.
A) -$20,000
B) $2,000
C) $20,000
D) -$2,000
If short-run average total costs are rising in the oil tanker industry, it implies that economies of scale exist in that industry
a. True b. False Indicate whether the statement is true or false