Funding for the operations of the Board of Governors of the Federal Reserve is derived from
A) taxes collected from commercial banks.
B) the governments of the states in which the district banks operate.
C) appropriations from the United States Congress.
D) earnings of the Federal Reserve district banks.
D
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A fall in the price level would lead to an increase in consumption according to ________ because ________
A) Friedman; the value of assets fall B) Modigliani; the value of assets fall C) Friedman; the value of assets rise D) Modigliani; the value of assets rise
Ethel purchased a bag of groceries in 1970 for $8 . She purchased the same bag of groceries in 2006 for $25 . If the price index was 38.8 in 1970 and the price index was 180 in 2006, then what is the price of the 1970 bag of groceries in 2006 dollars?
a. $5.39 b. $25.00 c. $29.11 d. $37.11