Each member of the Federal Reserve's Board of Governors is appointed for life
a. True
b. False
Indicate whether the statement is true or false
False
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The finite nature of the economy's resource base:
a. will be solved if only we would learn to conserve. b. is only a problem in developing countries. c. will be solved as technology advances. d. will always be with us.
Due to free entry and exit in monopolistic competition, in the long run price must be equal to
If Bank A sells a $100,000 U.S. Treasury bond to the Fed, Bank A's required reserves will:
A. increase but by less than $100,000. B. decrease. C. not change. D. increase by $100,000.
A major purpose of usury laws is to make more funds available to low-income borrowers. Economic analysis suggests that usury laws:
A. are effective in achieving this goal. B. allocate available funds to high-income borrowers. C. have no impact on the allocation of funds between high-income and low-income people. D. help low-income people only when the legal interest rate is above the market rate.