Refer to the information provided in Table 24.3 below to answer the question(s) that follow.
Table 24.3
Refer to Table 24.3 At an output level of $2,400 billion, there is a tendency for output
A. to increase.
B. to remain constant.
C. to fall.
D. to either increase or decrease.
Answer: B
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If prices rise in the United States, everything else constant, the dollar __________ against the yen and the yen __________ against the dollar
A) appreciates; appreciates B) appreciates; depreciates C) depreciates; appreciates D) depreciates; depreciates
The largest component of GDP is:
a. durable goods. b. net exports. c. personal consumption expenditures. d. government spending.
As the price level rises, the interest rate
a. falls, so the supply of dollars in the market for foreign currency exchange shifts left. b. falls, so the supply of dollars in the market for foreign currency exchange shifts right. c. rises, so the supply of dollars in the market for foreign currency exchange shifts left. d. rises, so the supply of dollars in the market for foreign currency exchange shifts right.
Which of the following is a provision of the Federal Reserve Act or subsequent legislation that weakens the independence of the Federal Reserve?
a) The Federal Reserve's actions are subject to executive branch control. b) Members of the Federal Reserve Board serve 14-year terms. c) Members of the Federal Reserve Board cannot be reappointed. d) The Federal Reserve System is subject to Congressional oversight.