The most powerful individual in the Federal Reserve System is the
A. senior member of the Federal Open Market Committee.
B. Superintendent of the Board of Governors.
C. Chairman of the Federal Reserve Board.
D. New York District Bank President.
C. Chairman of the Federal Reserve Board.
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Best Lights and Bright Lights are two light bulb suppliers that are competing with each other. If Best Lights announces an upcoming price change next month, it may be signaling to Bright Lights its intent to engage in ________.
A) tacit collusion B) a Stackelberg oligopoly C) a Cournot oligopoly D) a Chamberlin oligopoly
When analyzing the effects of the government budget deficit
A) no distinction must be made between an economy where full employment exists and one where substantial unemployment exists. B) it is important to examine the effects of the reported capital budget and the reported operating budget separately. C) there should be a comparison of the effect of the deficit to the effects of higher taxes needed to eliminate it. D) the baseline budget should be used since it is the most accurate.
What are the three distinct sections of the aggregate supply curve? What does each section imply about the relationship between output and prices?
The existence of positive externalities indicates that price is too low
Indicate whether the statement is true or false