The chairman of the Federal Reserve Board of Governors
A) is appointed by the President and confirmed by the Treasury.
B) serves a fourteen year term as chairman.
C) sits on the Federal Open Market Committee.
D) is always the president of the Federal Reserve Bank of New York.
C
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Government intervention
a. can provide incentives to conduct business in an illegal black market b. plays no role in generating wealth c. is the best way to eliminate poverty d. does not enforce property rights
The "invisible hand" works to promote general well-being in the economy primarily through
a. government intervention. b. the political process. c. people's pursuit of self-interest. d. altruism.
For an economy at full employment, an increase in the quantity of money will lead to which of the following sequences of shifts in aggregate demand and supply curves?
What will be an ideal response?
During the colonial period the cost of building a ship in New England was typically _________ the cost of building the same ship in England
a. greater than b. less than c. about equal to d. not comparable to