The Federal Reserve Board of Governors consists of
a. seven members who serve 6-year terms
b. 12 members who serve 14-year terms
c. seven members who serve 4-year terms
d. 12 members who serve 4-year terms
e. seven members who serve 14-year terms
E
Economics
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Define the term normal good. How can a normal good be recognized from
(i) the Engel curve diagram, (ii) the income elasticity of demand, and (iii) the substitution and income effects of a price change?
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The Tax Cut of 2001
A. permanently eliminated the inheritance tax. B. lowered the minimum marginal tax rate from 15 percent to 10 percent. C. will lower the top marginal tax rate to 23 percent by the end of the decade. D. expires in 2006.
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