The seven members of the Board of Governors of the Federal Reserve System are:
A. appointed by the president with the confirmation of the Senate.
B. elected by Congress from a slate of nominees provided by the president.
C. appointed by the Senate Finance Committee.
D. appointed by the presidents of the 12 Federal Reserve Banks.
A. appointed by the president with the confirmation of the Senate.
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Canada is classified by the International Monetary Fund as
A) an advanced economy. B) a developing economy. C) a transition economy. D) an emerging market economy. E) a natural-resource based economy.
Consider the following three statements:
i. You can either stand during a college football game or you can sit. You believe that you will see the game very well if you stand and others sit but that you will not be able to see at all if you sit and others stand. You therefore decide to stand. ii. Your friend tells you that he expects many people to stand at football games. iii. An economist studies photos of many college football games and estimates that 75 percent of all fans stand and 25 percent sit. Which of these statements deals with optimization, which deals with equilibrium, and which deals with empiricism? Explain.