Compare the Board of Governors and the Federal Open Market Committee
The Board of Governors runs the Federal Reserve. It has seven members who are appointed by the U.S. president with the advice and consent of the Senate. The voting members of the Federal Open Market Committee include the 7 members of the Board of Governors and 5 of the 12 regional bank presidents, rotated among the 12 regional presidents, but always including the president of the New York Fed. The chair of the BOG also serves as chair of the FOMC. The FOMC meets about every six weeks in Washington, D.C. to discuss the condition of the economy and to consider changes in monetary policy.
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Using the UIP equation, what would happen to the spot rate for euros if the dollar-euro exchange rate is expected to appreciate in the future?
a. The spot rate to purchase euros would rise (dollar depreciation). b. The spot rate to purchase euros would fall (dollar appreciation). c. The spot rate to purchase euros would remain unchanged. d. The spot rate to purchase euros would remain unchanged today, but rise in the future (dollar depreciation)
Which of the following types of economic regulation is most likely to encourage firms to inflate their costs?
A) price cap regulation B) rate of return regulation C) cartel regulation D) earnings sharing and price cap regulation