The Board of Governors of the Federal Reserve System has seven members appointed by the ________ that serve a term of ________ in order to ________
A) U.S. congress; 4 years; fulfill a mandate within the U.S. constitution
B) U.S. senate; 14 years; provide continuity in the governing of the U.S. economy
C) U.S. president and confirmed by the U.S. senate; 14 years; provide continuity in the governing of the U.S. economy
D) U.S. president and confirmed by the U.S. congress; 14 years; provide continuity in the governing of the U.S. economy
E) U.S. president and confirmed by the U.S. senate; 4 years; fulfill a mandate within the U.S. constitution
C
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Figure 5-2
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In Figure 5-2, an increase in government spending would cause
A. an outward shift in the aggregate supply curve and an increase in the price level. B. an outward shift in the aggregate demand curve and an increase in the price level. C. an inward shift of the aggregate demand curve and an increase in the price level. D. an inward shift of the aggregate demand curve and a decrease in the price level.
If the average tax rate exceeds the marginal tax rate, the tax would be
A. proportional. B. regressive. C. progressive. D. uniform.