Member banks of the Federal Reserve System
a. advise the Fed on monetary policy.
b. are immune from the effects of monetary policy.
c. vote on members of the Board of Governors.
d. have little control over the system they "own."
d
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To increase the money supply using the reserve requirements, what would the Fed typically do?
A) let each bank get more currency from the Treasury B) make each bank set its own reserve levels C) reduce the reserve requirement for banks D) increase the reserve requirement for banks
Refer to Table 4-4. Suppose that the quantity of labor supplied increases by 40,000 at each wage level. What are the new free market equilibrium hourly wage and the new equilibrium quantity of labor?
A) W = $9.50; Q = 420,000 B) W = $9.00; Q = 410,000 C) W = $8.50; Q = 400,000 D) W = $8.00; Q = 390,000