Decisions on the Fed’s buying and selling of government securities to control the U.S. money supply are made by
a. the Federal Open Market Committee.
b. Federal Reserve Banks.
c. the Board of Governors.
d. the president of the New York Federal Reserve Bank.
a. the Federal Open Market Committee.
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In Figure 4.1, the demand curve that is perfectly elastic is on graph:
A. A. B. B. C. C. D. D.
In the United States, the lifetime distribution of income is more equal than the annual distribution. This statement is:
A. true because the rich have gotten richer and the poor have gotten poorer. B. true because there is considerable income mobility over time. C. false because people tend to stay in the same income quintile over extended periods of time. D. false because the rich have gotten richer and the poor have gotten poorer.
Figure 18.2Refer to Figure 18.2. Macadamia has a comparative advantage in the production of:
A. fishing poles. B. spears. C. both spears and fishing poles. D. neither spears nor fishing poles.
Large in-kind benefits tend to increase the incentive to seek employment.
Answer the following statement true (T) or false (F)