Members of the Federal Reserve Board of Governors serve one nonrenewable term of:

Members of the Federal Reserve Board of Governors serve one nonrenewable term of:
 a. 4 years.
  b. 7 years.
  c. 14 years.
  d. life.

QUESTION 2

Which of the following is a criticism of capitalism?
 a. Unequal distribution of income. b. Failure to protect the environment.
  c. Exploitation of workers. d. All of these.

QUESTION 3

A 500 increase in investment will shift the aggregate expenditures curve up by:
 a. exactly 500 and will increase the equilibrium level of real GDP by exactly 500.
  b. exactly 500 and will increase the equilibrium level of real GDP by less than 500.
  c. exactly 500 and will increase the equilibrium level of real GDP by more than 500.
  d. more than 500 and will increase the equilibrium level of real GDP by more than 500.
  e. less than 500 and will increase the equilibrium level of real GDP by less than 500.

QUESTION 4

The Federal Reserve System was founded in:
 a. 1913.
  b. 1929.
  c. 1933.
  d. 1935.

QUESTION 5

Property rights allowing individuals to own goods, services, and factors of production are most important in:
 a. socialistic economies. b. planned economies.
  c. capitalistic economies. d. command economies.

QUESTION 6

Suppose real GDP is 800 billion when the MPC is 0.80, and people decide to increase their saving by 30 billion. Before this change, the economy was in equilibrium with people intending to save 100 billion and producers intending to invest 100 billion. The new equilibrium level of real GDP is:
 a. 600 billion.
  b. 650 billion.
  c. 680 billion.
  d. 730 billion.
  e. 800 billion.