Answer: D. Federal Open Market Committee (FOMC).
The group that sets the Federal Reserve Systems policy on buying and selling government securities (bills, notes, and bonds) is the:
A. Federal Deposit Insurance Corporation (FDIC).
B. Federal Bond Sale Authority.
C. Council of Economic Advisers.
D. Federal Open Market Committee (FOMC).
Economics
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An effective price ceiling usually generates
A) fire sales as firms try to unload their excess inventories. B) higher nominal prices. C) the use of nonprice rationing devices. D) happy sellers and dissatisfied buyers.
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If a major league baseball player would be willing to work for $500,000 per year and is currently being paid $1,200,000 per year, the opportunity cost of his decision to play baseball is
A) $500,000. B) $1,200,000. C) $1,700,000. D) $700,000.
Economics
The major distinguishing characteristic of oligopoly is that
A. firms are interdependent. B. firms produce differentiated products. C. firms can influence the price of their product. D. entry into the industry easy.
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Which of the following events occurred during the 2000 to 2005 time-frame and had an important impact on the deficit/surplus projections?
A. The decrease in unemployment rates from 2002 to 2003 B. The increase in inflation rates from 2000 to 2002 C. The tax cuts of 2001 and 2003 D. The increase in interest rates from 2001 to 2003
Economics