Which of the following is a false statement about the structure of the Federal Reserve System?
A. Exporter and importer interests are reflected
B. State and regional interests are reflected
C. Government (public) and private interests are reflected
D. Banker and business interests are reflected
Answer: A
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In the table above, Jack's comparative advantage is producing ________ and Jill's comparative advantage is producing ________
A) clothing; food B) clothing and food; nothing C) nothing; clothing and food D) food; clothing E) clothing; clothing
The standard IS curve is adjusted in new Keynesian theory to account for ________
A) the forward-looking behavior of households and firms B) the difference between real and nominal variables C) changes in GDP, or Gross Domestic Product D) the impact of a rising national debt
Workers do not know the safety records at individual firms; they only know industry averages. As a result,
A) each firm tries to outdo each other in making safety improvements. B) each firm has the incentive to be the safest in its industry. C) the equilibrium level of safety is less than optimal. D) the optimal level of safety is achieved.
What are cover and commodity charges?