A bank can only loan out its excess reserves
Indicate whether the statement is true or false
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How are net exports, net factor payments from abroad, and the current account balance related?
What will be an ideal response?
A.W. Phillips collected data on the rate of change in money wages and plotted it against unemployment rates in the United Kingdom. The curve he fit to the data showed that
A) the rate of change of money wage rates and unemployment rates were inversely related. B) the rate of change of money wage rates and unemployment rates were directly related. C) the rate of change of money wage rates and unemployment rates were independent. D) as money wage rates increased, the unemployment rate was cut in more than half.
One of the main difficulties with implementing fiscal policy is:
A. deciding on a policy without all the relevant information. B. the time lag between the time the policy is chosen and the time it gets enacted. C. the danger in overshooting or undershooting the goal of full employment. D. All of these are true.
The Supreme Court's "rule of reason"
A. has been applied since the time of the Civil War. B. was applied from 1911 to 1945. C. has been applied since 1945. D. has been applied since 1970.