The president of which Federal Reserve Bank is always a voting member of the FOMC? Why?
What will be an ideal response?
The president of the New York Federal Reserve Bank is always a voting member of the FOMC. The presidents of the other Federal Reserve Banks rotate on and off as voting members. The president of the New York Federal Reserve Bank is always a voting member because the New York Federal Reserve Bank implements the Fed's policy decisions.
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Refer to Scenario 12.2. In this game, if the players successfully coordinate and Jerome ends up playing his weak strategy, then
A) Eliza will donate a kidney and Jerome will not donate. B) both Eliza and Jerome will donate a kidney. C) Jerome will donate a kidney and Eliza will not donate. D) neither Eliza nor Jerome will donate a kidney.
Refer to the below graph. It shows the supply curve for a product before tax (S0) and after an excise tax is imposed (S1). If 500 units of the product are sold after the tax is imposed, the amount of tax revenue going to the government is:
A. $125
B. $250
C. $375
D. $500