Which of the following is not true about the members of the Federal Reserve Board of Governors?
A. They are appointed to fourteen-year terms by the president of the United States.
B. They are relatively immune to short-term political pressures.
C. They may not be reappointed after serving a full term.
D. They each serve as chairman of the Board of Governors on a rotating basis.
D. They each serve as chairman of the Board of Governors on a rotating basis.
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Suppose Starbucks currently charges $3.25 per cup for its latte
If Starbucks lowers the price to $3.00 per cup, based on the demand curve in the figure above, its total revenue will ________ because the demand for Starbucks latte is ________ over this price range. A) increase; elastic B) decrease; elastic C) increase; inelastic D) increase; unit elastic E) not change; unit elastic
The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for cod, a common resource. The market equilibrium with no government intervention is ________
A) 0 tons per week B) 400 tons per week C) 300 tons per week D) None of the above answers is correct.
If a monopolist is producing at a point at which marginal revenue is greater than marginal cost, it should decrease the level of production
a. True b. False Indicate whether the statement is true or false
If you must make a choice about consuming two apples, three oranges, or one candy bar, the opportunity cost of the candy bar is:
a. two apples. b. three oranges. c. two apples and three oranges. d. two apples or three oranges, whichever you prefer more. e. equal to the difference in the prices of the three options.