The Federal Reserve does all of the following except
A) make loans to individuals
B) influence the supply of money
C) influence the value of mone
D) regulate the banking system
Answer: A) make loans to individuals
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Substitution effects help explain the slope of the aggregate demand curve. One substitution effect refers to the
A) inverse relationship between the interest rate and the price level. B) direct relationship between the interest rate and the real value of wealth. C) effect on investment expenditures that result from a change in interest rates produced by a change in the price level. D) change in wealth that results from a change in the interest rate.
Based on the following information, what is the balance on the financial account?
Exports of goods and services = $5 billion Imports of goods and services = $3 billion Net income on investments = -$2 billion Net transfers = -$2 billion Increase in foreign holdings of assets in the United States = $4 billion Increase in U.S. holdings of assets in foreign countries = -$1 billion A) $3 billion B) $2 billion C) $1 billion D) -$1 billion
A Social Security system in which payroll taxes that workers and their employers pay in go directly to retirees and other beneficiaries is known as
A) a pay-as-you-go system. B) an individual-account system. C) a primary-deficit system. D) a social-lockbox system.
Economists disagree about many things. When those disagreements are about which model best explains the economy, these disagreements are primarily over "positive" statements
a. True b. False