Monetary policy is under the control of:
A) the Bureau of the Fiscal Services.
B) the Committee on Ways and Means.
C) the Federal Reserve System.
D) the Internal Revenue Service.
E) the Department of the Treasury.
C
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Let E= 0.50. Write the payoffs for both actors in the game below. What is the subgame perfect equilibrium?Please answer in the form (citizen’s 1st choice, citizen’s 2ndchoice; state’s choice).
Above is the Exit, Voice, and Loyalty game between the state (S) and the citizen (C).E is what the citizen gets from her exit option. R is what the state gets from the support (revenue) of the citizen. 0 is what the citizen gets for remaining loyal to the state. c is the cost for the citizen of exercising her voice option.
For the question, let R =2.Let c = 0.25.
What will be an ideal response?
The courts provide a vital check by doing all of the following EXCEPT for ______.
A. forcing the bureaucracy to follow standardized processes B. protecting against the tyranny of the majority C. using the power of its purse and oversight D. upholding both administrative law and constitutional principles