The Board of Governors:
A. are appointed by the U.S. president and confirmed by the Senate to 14 year terms.
B. Both these are true.
C. are experts in banking, finance, and monetary policy.
D. Neither of these are true.
Answer: B
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The above table shows production combinations on a country's production possibilities frontier. A movement from ________ involves the greatest opportunity cost of increasing the production of good Y
A) point E to point D B) point D to point C C) point C to point B D) point B to point A
The idea that similar foreign and domestic goods, or baskets of goods, should have the same price when priced in terms of the same currency is called
A) equity. B) purchasing power parity. C) efficiency. D) the tragedy of the commons.
If a country fixes its exchange rate below the equilibrium value,
a. the central bank must buy its own b. there will be downward pressure on the exchange rate c. its currency will appreciate d. the result is an excess demand for that country's currency e. its currency will depreciate
What is the crime externality associated with education?
A. A well-educated person earns higher income and commit less crime. B. A well-educated person runs for office and steals from society. C. A well-educated person implements policies that benefit other educated individuals. D. Schools and universities are a rip-off. Every worker in this university is a criminal.