The Federal Reserve Board of Governors consists of
a. seven members who serve 6-year terms
b. 12 members who serve 14-year terms
c. seven members who serve 4-year terms
d. 12 members who serve 4-year terms
e. seven members who serve 14-year terms
E
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Assuming that the demand for a good has increased and the supply of a good has decreased by the same amount, then: a. The change in price is determinate but the change in quantity is indeterminate. b. The change in quantity is determinate but the change in price is indeterminate. c. Both the change in price and the change in quantity will be indeterminate
d. Neither the change in price nor the change in quantity will be indeterminate.
When the real output of an economy is above its equilibrium output, _____
a. sales increase unexpectedly b. inventories begin to grow as output remains unchanged c. businesses will increase their level of production d. there will be a decrease in the stock of inventories
Use the following diagram to answer the next question.
In the diagram, solid arrows reflect real flows and broken arrows are monetary flows. Flow (7) might represent
A. wage payments to public school teachers. B. subsidies to corporations to stimulate exports. C. a transfer payment to disabled persons. D. the U.S. Bureau of Engraving and Printing's expenditures for paper.
During 2001-2004, the European Union had a large trade surplus with China.
Answer the following statement true (T) or false (F)