The purpose of having the members of the Board of Governors of the Federal Reserve serve fourteen-year terms is to
A) establish long-standing ties with high-level officials of other nations' central banks.
B) ensure that the governors become well-experienced at policymaking.
C) promote unity of opinion from shared time together.
D) insulate the governors' policy decisions from the influence of presidential elections and politics.
D
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In a closed economy with no taxes in which the average MPC is 0.75, which of the following is true?
A) If income is $100 the savings is $75 B) If income is #100 then consumption is $50 C) If income is $200 then saving is $50 D) If income is $200 then consumption is $75 E) If income is $500 then saving is $100
The concept that producing goods and services generates the means and the willingness to purchase other goods and services is
A) the Keynesian approach. B) money illusion. C) Say's law. D) cost-push inflation.