Gold stored by Bank of Canada backs all Canadian currency.
a. true
b. false
Ans: b. false
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Automatic stabilizers occur ______________, and only offset part of the shifts in aggregate demand.
a. slowly b. quickly c. in the long run d. monthly
Credit cards perform the same functions as money as long as the card holder's bank account has sufficient funds to allow the transactions
a. True b. False Indicate whether the statement is true or false
The money interest rate may be a misleading indicator of real borrowing costs when
a. the unemployment rate is high. b. the actual rate of unemployment exceeds the natural rate of unemployment. c. the inflation rate is high. d. real output is declining.
As price increases, firms in a perfectly competitive market find that it is:
A. easier to sell their product. B. beneficial to produce more units of output. C. more difficult to sell their product. D. beneficial to produce fewer units of output.