Although the Fed can destroy money, it is impossible for the Fed to create money out of thin air
Indicate whether the statement is true or false
False
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Using the information in the table shown, the average revenue for this firm:
This table represents the revenues faced by a monopolist.
A. decreases as output increases.
B. increases as output increases.
C. remains constant regardless of level of output.
D. is maximized when total revenue is maximized.
When a customer deposits $1,000 in a bank, the deposit is: a. an asset of the Federal Reserve
b. included in M1 if it is currently in a commercial bank's vault. c. a liability to the customer. d. an asset to a commercial bank if it is currently in the bank's vault. e. a liability for the bank as the bank owes it to the customer.
The huge national debt of the United States is likely to lead to bankruptcy of the national government
a. True b. False Indicate whether the statement is true or false
The independence of the Fed
A. allows it to run a monetary policy different from that which elected officials might demand. B. means that the Fed frequently pursues policies quite different from what the President asks for. C. is widely agreed to be best for the nation's welfare. D. is not real, since Congress must approve its policy.