The Federal Open Market Committee includes:
A. the Board of Governors.
B. all regional bank presidents.
C. the Chairman of the Treasury.
D. the Secretary of State.
A. the Board of Governors.
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In the above figure, point E represents the level of real GDP at which planned saving equals planned investment. At point C
A) changes in inventories cannot be determined. B) unused industrial capacity exists in the economy. C) unplanned inventories increase. D) unplanned inventories decrease.
To say that the forward market lacks liquidity means that
A) forward contracts usually result in losses. B) forward contracts cannot be turned into cash. C) it may be difficult to make the transaction. D) forward contracts cannot be sold for cash.
In the U.S. the authority to issue currency is held by:
A. the U.S. Mint. B. the U.S. Treasury. C. the Federal Reserve. D. the Office of the Comptroller of the Currency.
A firm that has increasing returns to scale in the long run does not experience diminishing marginal returns in the short run.
Answer the following statement true (T) or false (F)