Which of the following groups are a part of the board of governors of the Federal Reserve?
a. Federal Open Market Operations
b. Commercial Banks Presidents Council
c. Federal Advisory Committee
d. Both A and C are parts of the board of governors of the Federal Reserve
d
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Actual federal budgets are not an accurate measure of discretionary fiscal policy because: a. it is difficult to measure government spending accurately
b. people cheat on their income taxes. c. budget deficits increase during expansions even without changes in fiscal policy. d. budget deficits increase during recessions even without changes in fiscal policy. e. earlier administrations may have contributed to current budget deficits.
The short-run Phillips curve is upward sloping
a. True b. False Indicate whether the statement is true or false
The currency value of Agraria is set by government decree. Which of the following happens when the government alters the exchange rate so that its currency can buy more units of foreign currency?
A. Reflation B. Devaluation C. Appreciation D. Revaluation
Which of the following is true?
A. In Bertrand oligopoly each firm believes that its rivals will hold their output constant if it changes its output. B. In oligopoly a change in marginal cost never has an effect on output or price. C. In Cournot oligopoly firms produce an identical product at a constant marginal cost and engage in price competition. D. None of the answers is correct.