Under the European System of Central Banks, the Executive Board is similar in structure to the ________ of the Federal Reserve System
A) Board of Governors
B) Federal Open Market Committee
C) Federal Reserve Banks
D) Federal Advisory Council
A
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Many states in the U.S. acquire significant amounts of funds from the following, except
A. personal income taxes. B. grants from the Federal government. C. property taxes. D. state-run lotteries.
In general, pollution exists if
A) people are unconcerned about the hazards associated with pollution. B) there are poorly defined private property rights. C) there are poorly defined common property rights. D) profit-making activity is taken to an extreme.
The discount rate is the interest rate:
A. commercial banks charge their low-risk customers for a loan. B. savings and loan associations pay for using savings deposit funds. C. the U.S. Treasury pays individuals who buy Treasury bonds in denominations of $10,000 or more. D. the Federal Reserve charges banking institutions for borrowing its funds.
The "production function" that we have used to illustrate key macro ideas
A) Incorporates the of concept of scarcity of resources B) Incorporates the idea that capital and labor can be traded off, to some extent, in order to produce output C) Incorporates the principle that resources must be used to create goods and services D) all of the above