At what U.S. unemployment rate do most economists believe full employment occurs?
a. 0 percent
b. between 1.5 and 2.0 percent
c. between 4.5 and 5.0 percent
d. between 5.5 and 6.0 percent
e. between 7.5 and 8.0 percent
C
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Which of the following pairs of goods are most likely substitutes?
A) DVDs and DVD players B) cola and lemon lime soda C) lettuce and salad dressing D) peanut butter and gasoline
If gold is used as money in an economy, the money supply is easy to control
Indicate whether the statement is true or false
Which of the following is an accurate statement regarding the evolution of the Federal Reserve System?
A) The independence of the Federal Reserve has been systematically eroded by legislation. B) The Federal Reserve has shifted from an agency controlled by the states to a federally controlled agency. C) The Federal Reserve has shifted from a fiscal policy agency to a monetary policy agency. D) The Federal Reserve has shifted from a regional service agency to a national policy-making institution.
The equation of exchange specifies that
A) MsV = PY. B) velocity and money supply are directly related. C) MsP = VY. D) Ms = PVY.