The Federal Open Market Committee of the Federal Reserve System ...

[londonang]

The Federal Open Market Committee of the Federal Reserve System is responsible for
 
  A) maintaining competition among the nation's commercial banks.
  B) determining monetary policy actions.
  C) establishing the official price of gold.
  D) defining the foreign exchange value of the dollar.

Question 2

If you have 1,000 in wealth and the price level increases by 20 percent, then
 
  A) the 1,000 will buy fewer goods and services.
  B) the 1,000 dollars will buy 20 percent more goods and services.
  C) the real value of the 1,000 increases.
  D) you will be able to buy fewer goods, but the real value of those goods will increase.

[bhavsar]

Answer to Question 1

B

Answer to Question 2

A

[londonang]

Excellent

[Jossy]

TYSM