The Three Key Federal Reserve Entities
What will be an ideal response?
the Federal Reserve Board of Governors (Board of Governors),
the Federal Reserve Banks (Reserve Banks), and
the Federal Open Market Committee (FOMC) make decisions that help promote the health of the U.S. economy and the stability of the U.S. financial system.
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Which of the proposals for education reform is likely to be supported by an economist concerned with efficiency?
a. Give families "education stamps" to be spent at the school of their choice. b. Assign children to particular schools based on where they live. c. Give all schoolchildren the same number of years of education. d. Abolish private (i.e., fee-charging) schools.
Other fundamental things being equal, a decrease in the exchange rate value of the domestic currency will make domestic goods
A. less competitive in the international markets. B. less expensive in the domestic market. C. more in demand internationally. D. less expensive to produce.
Which of the following would indicate that an income tax is progressive?
a. high-income people pay $3,000 . low-income people pay $1,000 b. low-income people pay $3,000 . high-income people pay $1,000 c. high-income and low-income people all pay $1000 each d. high-income people pay 20 percent of their income in taxes; low-income people pay 10 percent e. both high-income and low-income people pay 10 percent of their income in taxes
Mallory Trammell is a homemaker. Last week, she was busy with her normal household chores. She is:
A. not a member of the labor force. B. a member of the civilian labor force who is unemployed. C. a member of the civilian labor force who is underemployed. D. a member of the civilian labor force who is employed.