Who appoints the Federal Reserve System's Board of Governors?
A. the President of the United States
B. the Speaker of the House of Representatives
C. the American Banking Association
D. the Secretary of the Treasury
Answer: A
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To fight inflation, the government may
A. decrease aggregate demand, which will also lead to lower unemployment rates. B. increase aggregate demand, which will also lead to lower unemployment rates. C. increase aggregate demand, which will also lead to higher unemployment rates. D. decrease aggregate demand, which will also lead to higher unemployment rates.
Which of the following would not change the demand for automobiles?
A) a change in the price of gasoline B) a change in the cost of steel C) a change in the price of motorcycles D) a change in tastes
The process of entry and exit into a monopolistically competitive market continues until:
A. price is equal to average total cost. B. long-run equilibrium is reached. C. profits are zero. D. All of these statements are true.
Free entry and exit of firms is a characteristic of:
A. all industries in the U. S. economy. B. centralized economies. C. industries in which firms are earning positive economic profit. D. perfectly competitive industries.