Members of the Board of Governors
A) must resign when the President who has appointed them leaves office.
B) may serve no more than three consecutive four-year terms.
C) serve for life or good behavior.
D) serve one nonrenewable fourteen-year term.
D
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Financial intermediaries are specialists in the production of
A) market failure. B) information. C) traded assets. D) commercial paper.
Government printing of money to finance government spending is called
A) irresponsible. B) an open-market purchase. C) sterilization. D) seigniorage.
Roles served by financial markets include the following, except:
A. sharing of risk. B. pooling and communicating information. C. eliminating risk. D. providing liquidity.
The income-expenditure identity for an open economy is:
A. Im ? Ex = C + I. B. Y = C + I + G. C. Y + G = C + I ? NX. D. Y = C + I + G + NX.