Who does not sit on the Federal Open Market Committee?
A. The president of the New York Federal District Bank
B. The Chairman of the Federal Reserve Board
C. The Secretary of the Treasury
D. The members of the Federal Reserve Board
C. The Secretary of the Treasury
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
Refer to the information provided in Figure 3.11 below to answer the following question(s).
Figure 3.11Refer to Figure 3.11. A decrease in the wage rate of gardenburger makers will cause a movement from Point B on supply curve S2 to
A. supply curve S3. B. Point A on supply curve S2. C. supply curve S1. D. Point B on supply curve S2.
Refer to Figure 15.6. Which of the following Fed actions is most likely to decrease the aggregate demand curve from AD2 to AD1?
A. Lowering the discount rate. B. Buying bonds in the open market. C. Raising the federal funds rate. D. Decreasing the reserve requirement.
Suppose that a technological decline makes labor less productive. What is likely to happen to wages and to potential output?
A) Wages decrease and potential output increases. B) Wages increase and potential output decreases. C) Wages increase and potential output increases. D) Wages decrease and potential output decreases.