Decisions to buy or sell securities at the Fed are made by the:
a. Congress.
b. Federal Open Market Committee.
c. Federal Deposit Insurance Corporation.
d. President's Council of Economic Advisors.
b
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The advantage of imposing a tax on the producer that generates pollution is that
A) it will eliminate pollution. B) the government can keep tabs on exactly what is produced in an industry. C) a producer can pass the cost of pollution to the victims of the pollution. D) it forces the polluting producer to internalize the external cost of the pollution.
The Board of Governors of the Federal Reserve System is the key decision maker for monetary policy.
a. true b. false
Refer to Figure 8.9. At the market price of $18, if this farmer produces the profit maximizing quantity, what profit will he make? A) $0 B) $2,000 C) $700 D) indeterminant from this information
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.