The Federal Reserve System consists of which of the following?
A. Federal Deposit Insurance Corporation and Controller of the Currency
B. Board of Governors and the 12 Federal Reserve Banks
C. U.S. Treasury Department and Bureau of Engraving and Printing
D. Federal Open Market Committee and Office of Thrift Supervision
Answer: B
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Tight monetary policy ________ interest rates which ________ the demand for a currency and ________ the fundamental value of the exchange rate.
A. increases; increases; decreases B. decreases; decreases; decreases C. increases; increases; increases D. increases; decreases; increases
Allocative efficiency occurs when
A) we cannot produce more of any good without giving up some other good that we value more highly. B) we cannot produce more of any one good without giving up some other good. C) marginal benefit exceeds marginal cost. D) opportunity costs are decreasing.
Which of the following is true?
A) When income tax rates fall, it is possible for tax revenues to rise. B) When income tax rates fall, it is possible for tax revenues to fall. C) All economists agree that a monetary rule is preferred to discretionary Fed policy. D) All economists agree that discretionary Fed policy is preferred to a monetary rule. E) a and b
Concern is expressed on the part of the current administration about what should be the optimal tax rate for those households who make more than $250,000 per year. This issue corresponds to what branch of economics?
What will be an ideal response?