The twin responsibilities of the Federal Reserve are:
A. to print money and ensure price stability.
B. to ensure price stability and regulate international trade.
C. to maintain full employment and balance the federal budget.
D. to ensure price stability and maintain full employment.
Answer: D
Economics
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Since 1960, the price of medical care in the United States has
A) decreased slightly. B) remained relatively unchanged. C) increased 8-fold. D) increased 19-fold.
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Assume the price elasticity of demand for a product is -4. In this case, the firm's optimal markup is (approximately):
A) 400 percent. B) 100 percent. C) 33 percent. D) 25 percent.
Economics