The Federal Reserve System consists of
A) one Federal Reserve Bank and 12 Federal Reserve districts, each with one branch bank.
B) a main central bank located in New York, with 11 additional branch banks located across the country.
C) 12 Federal Reserve Banks, each of which have a degree of independence from the U.S. government.
D) 12 independent banks in the 12 Federal Reserve districts, each of which are owned and controlled by the federal government.
C
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Assume the central bank decides to lower the bank's reserve requirements. Where and how should you begin your analysis when analyzing the chain reaction of economic interactions?
a. Start the analysis in the real goods market with aggregate demand shifting to the left. b. Start the analysis in the real goods market with aggregate demand shifting to the right. c. Start the analysis in the real credit market with demand for real credit shifting to the left. d. Start the analysis in the real credit market with demand for real credit shifting to the right. e. Start the analysis in the real credit market with supply of real credit shifting to the right.
The short-run Phillips curve shows the combinations of
a. unemployment and inflation that arise in the short run as aggregate demand shifts the economy along the short-run aggregate supply curve. b. unemployment and inflation that arise in the short run as short-run aggregate supply shifts the economy along the aggregate demand curve. c. real GDP and the price level that arise in the short run as short-run aggregate supply shifts the economy along the aggregate demand curve. d. None of the above is correct.
If three employees each work 35 hours a week and produce a total of 9,765 items, what is their total hourly productivity level?
A. 31 B. 93 C. 67 D. 105
An increase in unplanned inventory investment for the entire economy equals the excess of
A) output over aggregate supply. B) output over aggregate demand. C) aggregate supply over output. D) aggregate demand over output.