The actual control of the Federal Reserve System resides in the
A. Congress of the United States.
B. member banks.
C. Senate Banking Committee.
D. Board of Governors.
Answer: D
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The systemic costs and burdens that inflation imposes upon a society are almost entirely the result of
A) government price controls. B) inability to predict its rate and timing. C) the fact that no one can ultimately gain from higher prices because everyone is a consumer. D) the lag between the rise of wage costs and the subsequent rise of prices. E) the lag between the rise of prices and the subsequent rise of wages.
Less-developed countries that nonetheless have access to the latest technologies must be suffering from a relative shortage of ________ according to the Solow growth model, implying a very ________ rate of return available on additions to capital in
those countries. A) capital, low B) capital, high C) labor, low D) labor, high
Which of the following is the primary cause of inflation?
a. an increase in the quantity of money b. an increase in government spending c. an increase in unemployment d. an increase in productivity
If protective import-restricting quota are imposed by a country, in the majority of cases that nation's consumers end up
A) paying a lower price for the good than they otherwise would. B) consuming more of the good than they otherwise would. C) having more consumption choices than they otherwise would. D) consuming less of the good than they otherwise would.