Why does the president of the Federal Reserve Bank of New York hold a permanent seat on the FOMC?
A) The New York Fed is responsible for executing open market operations.
B) A substantial amount of financial activity takes place in New York City.
C) The Fed Board of Governors holds its regularly scheduled meetings in New York City.
D) The Federal Reserve Bank of New York is the original Fed district; the other eleven districts were formed later by the Banking Act of 1935
E) a and b
E
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Use the figure below to answer the following question.
If actual production and consumption occur at Q1 and the price is P2
A. deadweight loss equals area f. B. producer surplus equals area c. C. producer surplus equals area c + b. D. consumer surplus equals area a + b.
Which of the following is a likely consequence of a fall in private investment?
A) Mortgage defaults fall. B) Asset prices rise. C) Labor supply falls. D) Consumption falls.
A perfectly competitive market has:
a. only one seller b. at least a few sellers c. many buyers and sellers d. firms that set their own prices e. none of the above
A business with one or more general partners with the same unlimited liability as a sole proprietor is known as a? __________.
A. general partnership B. master limited partnership C. limited partnership D. limited liability company E. sole proprietorship