The amount of checkable deposits in an economy cannot exceed the amount of currency that the government has issued

The Federal Open Market Committee consists of all the following people except

A) the Board of Governors of the Federal Reserve System. B) five presidents of Federal Reserve Banks, on a rotating basis. C) the chairman of the President's Council of Economic Advisors. D) the President of the Federal Reserve Bank of New York.

Assume that you are a policy adviser who believes that money demand is highly interest-sensitive but investment is not. Asked your advice on how to pull the economy out of a recession, you are likely to emphasize

A) contractionary monetary policy. B) expansionary monetary policy. C) contractionary fiscal policy. D) expansionary fiscal policy.