Who appoints the members of the Board of Governors of the Federal Reserve?
(A) The U.S. senate
(B) The state legislatures of the states represented
(C) The state governors
(D) The U.S. President
Ans: (D) The U.S. President
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Which of the following best describes the movement from E1 to E2?
a. a decrease in supply b. an increase in supply c. a movement along the supply curve d. a decrease in demand
Which of the following statements is true?
A. Economic models are sometimes good for explaining one set of events and poor for explaining other sets of events. B. A model that has correctly predicted events for the past several years will not be wrong in the future. C. Economic models are either right or they are wrong. D. An economic model that is not always true is not useful and should not be used.
The interest-rate effect is the impact on real GDP caused by the ____ relationship between the price level and the interest rate
a. direct b. independent c. linear d. inverse
Which of the following would help control the future growth of healthcare prices and expenditures?
a. an increase in the share of healthcare costs paid for either directly or from personal medical savings accounts b. the substitution of catastrophic (high deductibility) health insurance for low co-payment plans c. more reliance on expansion in the supply of medical services rather than stimulation of demand d. all of the above