The central bank of which of the following countries dominated monetary policy within the Exchange Rate Mechanism?

Can nominal GDP decrease when the price level remains the same?

A) No, it is not possible. B) Yes, but only if real GDP decreases. C) Yes, but only if real GDP increases. D) Yes, but only if real GDP remains the same as well.

The twelve Federal Reserve Banks can best be characterized as:

A. Central banks, banker's banks, and quasi-public banks B. Regional banks, public banks, and member banks C. Investment banks, banker's banks, and public banks D. National banks, quasi-public banks, and investment banks