Which of the following is not a permanent member of the FOMC?
A) The president of the New York Fed
B) The president of the Philadelphia Fed
C) The chairman of the board of governors
D) All of the above are permanent members of the FOMC.
B
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All of the following are problems associated with maintaining a cartel except that:
a. cartels are illegal. b. a large amount of information is needed to coordinate a cartel. c. profits are not maximized by a cartel so it will evolve into a monopoly. d. each member of the cartel has an incentive to "chisel" by expanding output.
The merchandise trade balance does not include
a. exports of refrigerators b. imports of automobiles c. exports of agricultural products d. shipping and insurance costs e. imports of food items with heavy tariffs
Which of the factors does not cause there to be different interest rates?
a. risk of default b. length of time of the loan c. administration costs d. all of the above explain the reasons there are different interest rates
An increase in the money supply
a. and an investment tax credit both cause aggregate demand to shift right. b. and an investment tax credit both cause aggregate demand to shift left. c. causes aggregate demand to shift right, while an investment tax credit causes aggregate demand to shift left. d. causes aggregate demand to shift left, while an investment tax credit causes aggregate demand to shift right.