Who serves as voting members of the Federal Open Market Committee (FOMC)?
What will be an ideal response?
Voting members of the FOMC includes members of the Board of Governors, the president of the NY Federal Reserve, and four other presidents of Federal Reserves districts, who serve on a rotating basis.
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Which of the following describes a moral hazard problem?
A) a process by which individuals have substantial resources devoted to the exchange process and need to make a profit or they will be adversely affected B) a process by which individual buyers or sellers with better information are more likely to participate in voluntary exchange C) a contractual problem that results because monopolies exist in all economies D) a post-contractual problem that may result because participants to the exchange process have information that allows them to act in an opportunistic manner
Explain how each of the following events affect the supply of loanable funds curve:
a) The economy is in a recession so people's disposable income is lower. b) The stock market is booming so the people's wealth is higher. c) Fewer college graduates are finding jobs so expected future income is lower. d) The real interest rate increases.