The money supply is controlled by the
A) New York Stock Exchange.
B) Federal Reserve System.
C) stock of gold in the economy.
D) President of the United States.
B
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The following statements are accurate except a. Social Security represents in-kind transfer payments. b. The percentage of people below the poverty line fell dramatically between 1960 and 1970
c. The negative income tax was designed to preserve incentives to work. d. Income inequality in the U.S. is less unequal than the inequality of wealth. e. The Gini coefficient measures income distribution.
If a shift in SRAS results from gains in productivity growth, which are typically measured in terms of a few percentage points per year, the effect will be:
a. relatively small over a few months or even a couple of years. b. relatively large over a few months or even a couple of years. c. relatively small over a few months but larger over a couple of years. d. relatively large over a few months but smaller over a couple of years.