Members of the Federal Reserve Board of Governors are appointed for one fourteen-year term so that they:
A. Have time to learn how the Fed operates.
B. Are more likely to make politically acceptable decisions.
C. Make their decisions based on economic, rather than political, considerations.
D. Have enough time to travel to all 12 regional banks.
C. Make their decisions based on economic, rather than political, considerations.
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Real domestic interest rates would increase in a large open economy if
A) there were a temporary negative domestic supply shock. B) the government imposed capital controls and the capital and financial account had been in deficit. C) foreigners were more willing to save. D) there were a temporary negative supply shock abroad in a small open economy.
When various firms fail because their output is not demanded by society, workers may suffer
a. structural unemployment. b. frictional unemployment. c. seasonal unemployment. d. cyclical unemployment.