Apart from the United States, in countries where central bank board members serve fixed terms of office,
A) none have terms as long as fourteen years.
B) many serve for life or good behavior.
C) all have terms longer than fourteen years.
D) the head of the central bank rarely has a term longer than one year.
A
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If there is a recession, the Fed would most likely:
a. increase bank reserves by raising the discount rate. b. increase bank reserves by buying government securities. c. decrease bank reserves by raising the discount rate. d. decrease bank reserves by selling government securities. e. decrease bank reserves by lowering the legal reserve requirement.
Suppose income falls 5 percent in a year, and as a result, housing construction falls from 10 million to 5 million units annually. Based on this information, housing starts are
A. Price-inelastic. B. Price-elastic. C. A normal good. D. An inferior good.
Figure 2.1Referring to Figure 2.1,if you increase the production of agricultural goods, what other area is affected?
A. the price of produce B. the production of manufactured goods C. how much people can purchase D. the wages earned by agricultural workers
The use of present value calculations in valuing natural resources is important because it:
A. Ensures that net benefits are minimized over time B. Permits greater extraction of resources in the future C. Permits greater extraction of resources in the present D. Ensures resources are allocated to their best use over time