In a market system, the what, how and for whom questions in economics are determined by
A) those who are not in the market.
B) buyers and sellers together.
C) the central authority.
D) no one.
Answer: B
Economics
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The Federal Reserve econometric model emphasizes the impact of the wealth effect on
A) consumption. B) government spending. C) business investment. D) exports.
Economics
All of the following help make the Fed independent of the political process EXCEPT
A) financial independence. B) chair of Fed receives a lifetime appointment. C) Board members receive a long, nonrenewable appointment. D) Board members' terms expire at different times, reducing the possible number of appointees by any one president.
Economics