The president of the New York Federal Reserve bank is the only Federal Reserve Regional Bank President who gets to vote at every meeting of the Federal Open Market Committee
Indicate whether the statement is true or false.
Answer: True.
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Refer to the figure below. The equilibrium price is ________, and the equilibrium quantity is ________. 
A. $30; 15 B. $35; 20 C. $25; 5 D. $25; 20
Refer to the above figure. The rational expectations hypothesis implies that an anticipated decrease in aggregate demand from AD2 to AD1 will
A) move the economy from b to c. B) move the economy from b to a. C) move the economy from c to a. D) shift the aggregate supply (AS) curve to the left.
Which of the following is not a gain from division of labor?
a. Workers' abilities are matched to tasks. b. Workers gain experience from the repetition of the tasks. c. Workers save time by not moving to different tasks. d. Workers' morale increases as tasks become more specialized. e. The introduction of labor-saving machinery is possible.
Jennifer took out a fixed-interest-rate loan when the CPI was 100 . She expected the CPI to increase to 103 but it actually increased to 105 . The real interest rate she paid is
a. higher than she had expected, and the real value of the loan is higher than she had expected. b. higher than she had expected, and the real value of the loan is lower than she had expected. c. lower than she had expected, and the real value of the loan is higher than she had expected. d. lower then she had expected, and the real value of the loan is lower than she had expected.