Over time, overall responsibility for formulating monetary policy has become increasingly concentrated in the
A) Federal Reserve Bank of New York.
B) Council of Economic Advisors.
C) Federal Deposit Insurance Corporation.
D) Federal Reserve Board of Governors.
D
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The actual control of the Federal Reserve System resides in the
a. Congress of the United States. b. member banks. c. Senate Banking Committee. d. Board of Governors.
Which of the following statements about GDP is true?
a. The value of GDP per capita of an economy does not reflect the equality of distribution of income among the population in the economy. b. The value of GDP per capita of an economy reflects the equality of distribution of income among the population in the economy. c. A high level of GDP in an economy states that the standard of living of the people in the economy is also high. d. As GDP per capita rises, the gap between the incomes of the top 5 percent of the population and the bottom 5 percent necessarily decreases.