The official term of office of the chairman of the Fed is
a. 2 years.
b. 4 years.
c. 7 years.
d. 14 years.
b. 4 years.
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Which of the following documents established "rules of the game"?
A) The Book of Exodus B) The Scrabble Players Dictionary C) The Bylaws of the AFL-CIO D) The Constitution of South Africa E) All of the above.
Refer to the scenario above. Which of the following will happen if the equilibrium price charged by the firm in the short run is $130?
A) The firm will earn positive economic profits and continue production. B) The firm will incur a loss but continue production. C) New firms will enter the industry in the long run. D) All firms will incur losses in the long run.
If an individual deposits an amount at a compound interest rate of r% per year for a time period of T years, then:
A) Future Value = (1 - r)T × (Original Principal). B) Future Value = (1 + r)/T × (Original Principal). C) Future Value = (1 - r)/T × (Original Principal). D) Future Value = (1 + r)T × (Original Principal).
Perfect central planning is nearly impossible for all of these reasons except
A. production processes between industries are often interdependent. B. some processes must be decided together, and not individually, because of their interdependence. C. if the output target for one industry is adjusted, many others must also be adjusted. D. All of these reasons are correct.