Which group votes on the open-market operations that are used to control the U.S. money supply and interest rates?
A. The 12 Federal Reserve Banks.
B. The Federal Reserve System.
C. The Board of Governors of the Federal Reserve System.
D. The Federal Open Market Committee (FOMC).
Answer: D. The Federal Open Market Committee (FOMC).
You might also like to view...
The above figure shows the market for a particular good. If the market is controlled by a perfect-price-discriminating monopoly, consumer surplus equals
A) A. B) A + B + C. C) C. D) zero.
Economic freedom is
A) the right to vote in an election for a political leader. B) the right to own private property and to exchange goods with minimal government interference. C) the amount of control that the government has in a market. D) present as long as private individuals own businesses.
Economist's can justify supporting education through taxation on which of the following grounds?
A) Education generates spillover benefits.
B) Low-income people could not otherwise afford education.
C) Most economists are educators.
D) Free education extends equal opportunity to all.
E) Public education is more efficient than allowing education to be provided by the market.
Scarcity means we must
A) consume less. B) produce less. C) make choices. D) earn more. E) work more.