The Federal Reserve System is a(n)
A. corporation owned by its member banks.
B. independent branch of the U.S. government.
C. corporation owned by the government and member banks.
D. agency created by presidential executive order.
Answer: A
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A change in ________ creates a movement along the aggregate demand curve but does not shift the aggregate demand curve
A) tax rates B) the price level C) fiscal policy D) None of the above because they all shift the aggregate demand curve.
The most efficient way to encourage the growth of an infant industry is through
A) a voluntary export restraint. B) a tariff. C) a subsidy. D) an import quota.
In terms of GDP, counting ______ leads to double counting.
a. exported goods b. goods sold in bulk c. agricultural goods d. intermediate goods
Refer to the diagram, in which C 1 is the before-tax consumption schedule. Other things being equal, the economy would enjoy the greatest built-in stability with consumption schedule:
A. C 1 .
B. C 2 .
C. C 3 .
D. C 4 .