The people who sit on the Federal Reserve Open Market Committee are ____________.
Fill in the blank(s) with the appropriate word(s).
The Board of Governors, the president of the New York Federal Reserve District Bank, and the four other Reserve Bank presidents
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Since the value of the multiplier is always at least 1, which of the following is correct?
a. The size of the vertical shift in the aggregate expenditure line is always equal to the change in GDP b. The size of the vertical shift in the aggregate expenditure line is always less than the change in GDP c. The size of the vertical shift in the aggregate expenditure line is always greater than the change in GDP d. The size of the vertical shift in the aggregate expenditure line is always equal to or smaller than the change in GDP e. The MPC is always bigger than 1
Use the following choices regarding the various types of unemployment to describe this situation. Tired of the same job, day-in and day-out, Delores quit her job and is looking for more challenging work.
A. frictional unemployment B. structural unemployment C. natural unemployment D. cyclical unemployment
Which of the following statements about comparative advantage is FALSE?
A. International trade will benefit an entire economy, but some particular groups of people may be hurt by expanding trade. B. A country's comparative advantage cannot be determined by looking only at its own economy. C. Expanding international trade hurts a nation's economy if it causes the nation's currency to depreciate. D. There is always a trade between two countries that can make both better off.
If a monopolist earns positive economic profits in the long run,
A. the monopolist expands production. B. the monopolist will not change its behavior. C. new firms will enter the market. D. the industry supply curve shifts to the right.