Which of the following positions is included on the Federal Open Market Committee?
A) Comptroller of the Currency
B) Chairman of the Council of Economic Advisors
C) Chairman of the Federal Reserve Board of Governors
D) Secretary of the Treasury
C
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Efficiency occurs if the:
A. government does not interfere with market prices. B. market is in equilibrium. C. individually rational quantity of goods and services is being produced. D. socially optimal quantity of goods and services is being produced.
On the 45 degree line diagram, the 45 degree line shows points where
What will be an ideal response?
Commercial banks differ from credit unions in the following way:
A. commercial banks cannot make auto loans to individuals, just to businesses while credit unions can do both. B. credit unions focus on consumer loans while commercial banks primarily make loans to businesses. C. credit unions make loans and accept deposits while commercial banks just make loans. D. credit unions do not have to hold reserves while commercial banks do.
According to Okun's Law, if GDP increased by 6%, the unemployment rate would decrease by
A. 1 percentage point. B. 2 percentage points. C. 3 percentage points. D. 6 percentage points.