Which one of the following is true about the U.S. Federal Reserve System?
A. The head of the U.S. Treasury also chairs the Federal Reserve Board.
B. There are 10 regional Federal Reserve Banks.
C. There are seven members of the Federal Reserve Board of Governors.
D. The Federal Open Market Committee is smaller in size than the Federal Reserve Board.
Answer: C
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Economists collect data on prices in every country and develop an index that describes the overall difference in prices between countries called the:
A. price parity purchasing index. B. consumer price index. C. consumer purchasing power index. D. purchasing power parity index.
Which of the following is the worst-case scenario for a consumer?
a. Perfect competition b. Perfect price discrimination c. Single-price monopoly d. Peak load pricing
Which of the following is a valid concern about the national debt for a country whose debt is held entirely by its citizens?
a. The welfare of future generations will be directly related to the per-capita size of the national debt that they inherit. b. Growth of the national debt will eventually lead to the bankruptcy of the government. c. When the debt comes due, future generations may be unable to pay it off. d. If the increases in the national debt reduce private expenditures on capital formation, future generations may have lower incomes because they will inherit a smaller stock of capital.
Other things the same, technological progress raises the price level
a. True b. False Indicate whether the statement is true or false