Other than its main role of controlling the supply of money, the functions of the Federal Reserve include
Answer: Issuing Federal Reserve Notes, providing for check collection, and supervising the operation of banks.
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Holding everything else constant, a country's exports will decrease if the:
A) country's currency appreciates. B) country's currency depreciates. C) country's currency is revalued. D) none of the above.
When all workers who want jobs have them and the demand for and supply of labor are in equilibrium,
A) the unemployment rate will be zero. B) unemployment is at its natural rate. C) the economy will be experiencing high rates of inflation. D) frictional unemployment will be zero.
Which of the following pairs of goods are substitutes?
A) Baseball bats and baseballs B) Hot dogs and mustard C) Computer hardware and software D) Gasoline and motor oil E) Owner-occupied housing and rental housing
Let W be the included exogenous variables in a regression function that also has endogenous regressors (X). The W variables can
A) be control variables B) have the property E(ui|Wi) = 0 C) make an instrument uncorrelated with u D) all of the above