Which of the following board of governors are responsible for setting and implementing the nation's monetary policy?
a. The Board of Governors, which consists of five members appointed by the Fed and confirmed by the Senate.
b. The Board of Governors, which consists of seven members appointed by the president and confirmed by the Senate.
c. The Board of Governors, which consists of four members appointed by the Senate and confirmed by the Fed.
d. The Board of Governors, which consists of three members appointed by the president and confirmed by the Fed.
b
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Special-interest legislation that imposes costs broadly over many taxpayers can be enacted because
a. taxpayers benefit from this type of legislation b. taxpayers remain rationally ignorant of the legislation c. only the wealthy pay these taxes d. these taxes are actually borne by a minority of taxpayers e. the Constitution requires special-interest legislation
The opportunity costs associated with the use of resources owned by a firm are:
a. externalities. b. implicit costs. c. explicit costs. d. sunk costs.
National income minus the amount of national income not going to households is
A. personal income. B. interest income. C. disposable income. D. proprietor's income.
George Washington’s troops at Valley Forge were almost destroyed by price controls.
Answer the following statement true (T) or false (F)