Who owns the Federal Reserve banks?
A) the private commercial banks in each district which are members of the Federal Reserve System
B) those households which have purchased stock in Federal Reserve System
C) the federal government
D) the governments of the states in which the banks are located
A
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In the above figure, the axis break in the x-axis
A) reflects the fact that for the years covered in the figure, the unemployment rate was never less than 3 percent. B) shows that there is no relationship between inflation and unemployment. C) misleadingly shows that inflation has changed very little even though the unemployment rate has increased a great deal. D) implies that for the years covered in the figure, the inflation rate was always greater than 1 percent.
Assume that an economy experiences both positive population growth and technological progress. In this economy, which of the following is constant when balanced growth is achieved?
A) I B) S C) Y/N D) all of the above E) none of the above