Critics of the Federal Reserve maintain that, to correct the credibility problem of monetary policy, the Fed should:
a. tighten monetary policy.
b. be required to maintain a growth rate of the money supply that is fixed by law.
c. give more power to the Federal Open Market Committee.
d. ignore public opinion and establish more discretionary power over monetary policy.
e. merge with the U.S. Treasury and be dissolved as an independent agency.
b
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To increase gas mileage, automobile manufacturers make cars small and light. Large cars absorb more of the impact of an accident than small cars but yield lower gas mileage
These facts suggest that a positive relationship exists between safety and gas mileage. Indicate whether the statement is true or false
External costs can be defined as
A) the cost associated with private production, but partially borne by society. B) the sum of all private production costs. C) the cost of running the federal government. D) the cost of providing all public goods and services.