Economics 2- Macroeconomics - Final Examination ultiple Choice ntify the choice

Question

Economics 2- Macroeconomics - Final Examination ultiple Choice ntify the choice that best completes the statement or answers the question. The Federal Reserve Board of Governors consists of: a. 50 members selected by state legislatures. b. 12 members, one from each Federal Reserve District. c. 12 members nominated by the President and confirmed by the Senate. d. seven members elected by Congress. 1· seven members nominated by the President and confirmed by the Senate. According to the income approach, the largest component of national income is: a. government spending. b. proprietor's income. c. net interest. d. personal consumption expenditures. 2. G compensation of employees. A reduction in the rate of inflation is called: deflation. b. disinflation. c. hyperinflation. d. cost-push inflation. 3. Exhibit 15-6 Balance sheet of Tucker National Bank Assets Liabilities s 20,000 Checkable deposits Required reserves Excess reserves Loans $200,000 180.000 4. The required reserve ratio in Exhibit 15-6 is: 10 percent. 20 percent. 80 percent. d. c. 100 percent. 5. Consider a broom factory that permanently closes because of foreign competition. If class workers cannot find new jobs because their skills are no longer marketable, then they are seasonally unemployed. b) frictionally unemployed. c. structurally unemployed d. cyclically unemployed

Explanation / Answer

Answer:- the federal reserve board of governors consists of

Correct Answer:- Seven members nominated by the President and confirmed by the Senate

Reason:- There are seven members of the Board of Governors of the Federal Reserve System who are nominated by the President and confirmed by the Senate

Answer:- according to the income approach the largest component of national income is

Correct Answer:-compensation of employees

Answer:- a reduction in the rate of inflation is called

Correct Answer:- Deflation

Reason:- When the price is decreasing it is termed as deflation.

Answer 5:-          The correct Answer is:- Structural unemployment

Reason:- Structural unemployment is resulted due to mismatch in skill set required by the job and skill set possessed by the manpower.

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