A member of the Board of Governors of the Federal Reserve is appointed by
a. Congress for 12 years.
b. the President, with the advice and consent of the Senate, for a 14-year term.
c. the President, for life.
d. members of the House of Representatives for a 10-year term.
B
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Adjudication reduces problems created by negative externalities by
A) assigning liability to the party most able to pay (the deep pocket). B) balancing marginal social benefits against marginal social costs. C) discovering who has what rights. D) making more accurate private benefit-cost analyses. E) measuring externalities more precisely.
The quantity of money demanded is the
A) average daily volume of bank account withdrawals. B) amount that people and businesses choose to hold. C) fraction of cash holdings in an average investment portfolio. D) income and volume of profits that people and businesses would like to receive. E) sum of checkable and savings deposits at banks.