The Federal Reserve entity that makes decisions regarding the conduct of open market operations is the
A) Board of Governors.
B) chairman of the Board of Governors.
C) Federal Open Market Committee.
D) Open Market Advisory Council
C
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If C = $500, I = $150, G = $100, NX = $40, and GNP = $800, how much is NFP?
A) -$10 B) -$5 C) $5 D) $10
Market-day supply elasticities can vary between 0 and 1
Indicate whether the statement is true or false
Peak load pricing helps firms gain profit because
A. people are willing to pay more for the first units they consume of a good. B. low prices when demand is strong means high volume sales. C. they can serve their customers with a smaller capital base. D. demand shifts left during peak load hours.
Which conditions must hold if a firm is to successfully engage in price discrimination?
A. It must be extremely difficult, if not impossible, for one consumer to resell a product to another. B. Firms must have a sufficiently low amount of market power. C. Consumers must have very similar preferences for the product. D. All of these are correct.