Of the three players in the money supply process, most observers agree that the most important player is
A) the United States Treasury.
B) the Federal Reserve System.
C) the FDIC.
D) the Office of Thrift Supervision.
B
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"The unemployment rate is five percent" is an example of a normative statement
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.
In the long run, a monopolistically competitive firm acting according to the Chamberlin model
A. will operate at the minimum point of the marginal cost curve. B. will earn positive economic profits. C. will operate at the minimum point of the average cost curve. D. will not operate at the minimum point of the average cost curve.
The other name for the National Labor Relations Act of 1935 is
A) the Wagner Act. B) the Taft-Hartley Act. C) the Clayton Act. D) the Wheeler-Lea Act.