Compare the Board of Governors and the Federal Open Market Committee
The Board of Governors runs the Federal Reserve. It has seven members who are appointed by the U.S. president with the advice and consent of the Senate. The voting members of the Federal Open Market Committee include the 7 members of the Board of Governors and 5 of the 12 regional bank presidents, rotated among the 12 regional presidents, but always including the president of the New York Fed. The chair of the BOG also serves as chair of the FOMC. The FOMC meets about every six weeks in Washington, D.C. to discuss the condition of the economy and to consider changes in monetary policy.
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Court rulings in the 19th century
(a) tended to favor business and profit-making activities. (b) tended to protect traditional amenity rights of property, such as the right to clean air, clean water, scenery and quiet enjoyment of property. (c) tended to favor small business activities over big business corporate activities. (d) tended to promote worker safety and ensure that employers were fully liable for worker injuries, should they occur.
Assume that brand X is an inferior good and name brand Y is a normal good. An increase in consumer income, other things being equal, will cause a(n):
a. upward movement along the demand curve for name brand Y. b. downward movement along the demand curve for brand X. c. rightward shift in the demand curve for brand X. d. leftward shift in the demand curve for brand X.
In economic theorizing, common sense will always lead to the correct answer.
Answer the following statement true (T) or false (F)
If the dollar appreciates relative to the yen
A. there is no reason to expect either appreciation or depreciation of the yen. B. the yen must depreciate relative to the dollar. C. the yen may also appreciated in value. D. the yen will appreciate only if U.S. exports to Japan exceed U.S. imports from Japan.