Which of the following institutions within the Federal Reserve System determines how many government securities the Fed should buy or sell on a given day?
A. the Federal Reserve Bank of Chicago's Board of Trade
B. the Federal Reserve Bank of New York's Trading Desk
C. Federal Advisory Committee
D. the Board of Governors
Answer: B
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Because of the income effect, the labor supply curve is
A) eventually backward bending as wage rate increases. B) positively sloped. C) horizontal. D) vertical.
In Figure 3-6 above, income and planned expenditure are equal at
A) point J. B) point K. C) point L. D) all of the above.
A soft budget constraint applies when enterprises that earn profits distribute those profits to their private owners
a. True b. False
If a bank receiving a new deposit of $200,000 would be able, as a result, to increase their lending by at most $150,000, then the required reserve ratio equals: a. 4%
b. 25%. c. 40%. d. 50%.