The voting members of the Open Market Committee are
a. the 7 Governors of the Federal Reserve System.
b. the 12 presidents of the Federal Reserve Banks.
c. the 7 Governors and the Chairman of the Council of Economic Advisors.
d. the 7 Governors and 5 of the presidents of the 12 regional Federal Reserve Banks.
D
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Which of the following would not cause the demand curve for college football tickets to shift?
a. an increase in the price of professional football tickets b. a decrease in the price of college basketball tickets c. an increase in the price of college football tickets d. a drop in student incomes e. an increase in student preferences for college football tickets
Items counted in U.S. GDP, but excluded from U.S. GNP, are
a. the value of the automobiles produced by a General Motors plant in Spain b. U.S. assets abroad c. income earned by U.S. citizens working in foreign economies d. a Nissan plant's output in Tennessee e. a Foot Locker's sales at its new store in Edmonton, Canada
Which of the following makes it difficult for markets to produce public goods?
a. Free riders use the goods without paying for them. b. The government intervenes as a free rider. c. Intellectual property is easily stolen by foreign firms. d. Social pressures require firms to lower prices on the goods.
In which of the following cases would there be an effect on the value of the U.S. consumer price index, but not on the value of the U.S. GDP deflator?
a. All of the truck tires that are produced by a certain company in South Korea are sold to the U.S. military, and the price of these tires decreases. b. All of the truck tires that are produced by a certain company in California are sold to the U.S. military, and the price of these tires decreases. c. Most of the bananas that are produced by a certain company in Honduras end up in U.S. grocery stores, and the price of these bananas increases. d. Most of the earth-moving machines that are produced by a certain company in Illinois are exported to other countries, and the price of these machines increases.