All of the following help make the Fed independent of the political process EXCEPT
A) financial independence.
B) chair of Fed receives a lifetime appointment.
C) Board members receive a long, nonrenewable appointment.
D) Board members' terms expire at different times, reducing the possible number of appointees by any one president.
B
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What is the interaction between the Federal Reserve districts and the Board of Governors of the Federal Reserve System?
What will be an ideal response?
An outward shift of an economy's production possibilities curve is caused by:
a. an increase in capital. b. an increase in labor. c. an advance in technology. d. all of these.
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.
How are unemployment, inflation, and the business cycle related?
What will be an ideal response?