Who can vote on Federal Open Market Committee decisions?
a. all of the members of the Board of Governors and all of the Federal Reserve Bank presidents
b. all of the members of the Board of Governors and some of the Federal Reserve Bank presidents
c. some of the members of the Board of Governors and all of the Federal Reserve Bank presidents
d. some of the members of the Board of Governors and some of the Federal Reserve Bank presidents
b
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Refer to Figure 15-15. In the figure above, suppose the economy in Year 1 is at point A and is expected in Year 2 to be at point B. Which of the following policies could the Federal Reserve use to move the economy to point C?
A) decrease income taxes B) sell Treasury bills C) decrease the required-reserve ratio D) buy Treasury bills
If Bert has budget constraint A in the graph shown, what is his opportunity cost of three gallons of milk?
This graph shows three different budget constraints: A, B, and C.
A. Twelve cases of soda
B. Eight cases of soda
C. Four cases of soda
D. It is impossible to say without knowing Bert's income.
From 2007 to 2008, the Federal Reserve System reduced interest rates, the price that borrowers pay. As a result, economists expected that the supply of money would
a. increase. b. decrease. c. not change. d. Uncertain-economic theory has no answer to this question.
In Keynes' view, labor unions would resist wage cuts, but individual employees would go along with wage cuts initiated by his/her employer
Indicate whether the statement is true or false