Members of the Board of Governors of the Federal Reserve are appointed by the President and approved by the Senate to serve a 14-year term
Indicate whether the statement is true or false
True
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If the current account is a deficit of 25 then
(a) the capital account is a surplus of 25. (b) the cash account is a surplus of 25. (c) the capital account is a surplus of 25 if the cash account is zero. (d) the cash account is a deficit of 25
The "demonstration effect" created by advertising: a. manipulates consumer needs for trivial products
b. creates urges among consumers to buy products previously unknown to them. c. conveys misleading claims to the consumer. d. none of the above
A year-long drought that destroys most wheat crops for the season would shift the:
A. short-run aggregate supply curve only. B. aggregate demand curve only. C. aggregate demand curve, and the short-run aggregate supply curve would shift in response. D. short-run aggregate supply curve and the long-run aggregate supply curve.
When the government cuts the income tax rate, the real wage rate paid by employers ________ and the real wage rate received by workers ________ and potential GDP ________
A) increases; increases; increases B) decreases; decreases; increases C) increases; decreases; increases D) decreases; increases; decreases E) decreases; increases; increases