Which statement about the ownership of the Fed is true?
a. The Fed is publicly owned by the citizens of the United States.
b. The Fed is owned by the Federal Reserve Board of Governors.
c. The Fed is privately owned by member banks.
d. The Fed is owned by the U.S. government.
c. The Fed is privately owned by member banks.
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Suppose the demand curve for a good is given by the equation Q = 100 - P and the supply curve is given by the equation Q = 0.25P, where P represents the price of the good (measured in dollars per unit) and Q represents the quantity of the good (measured in units per week).
(i) Find the equilibrium price and quantity for this market. (ii) Suppose quantity demanded for the good rises by 10 units at every possible price while at the same time quantity supplied falls by 5 units at every possible price (with the exception that quantity supplied can not drop below zero units at any price). Find the new equilibrium price and quantity in this market. (iii) Given the change in demand, how large would the fall in supply need to be (given the same 10 unit rise in demand) in order for the price to decrease instead of increasing as in part (ii)?
Suppose the growth rate of GDP in the United States is 4.2 percent. If 1.1 percent and 1.4 percent of GDP growth are due, respectively, to capital and labor growth, the amount resulting from technological progress is
A) 0.3 percent. B) 1.1 percent. C) 1.4 percent. D) 1.7 percent.
Lower prices are always better for society.
Answer the following statement true (T) or false (F)
When regulations interfere with exchange and limit entry into various businesses and occupations, they will
What will be an ideal response?