At higher interest rates, banks will want to hold more reserves.
Answer the following statement true (T) or false (F)
False
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Growers expect that the price of a bushel of wheat will increase in one month. This belief results in
A) an increase in current supply of wheat. B) a decrease in current supply of wheat. C) a decrease in future supply of wheat. D) no change in current or future supply of wheat.
Which of the following is considered to be a fixed cost of operating an automobile?
a. Gasoline. b. Tires. c. Oil change. d. Maintenance. e. Registration fees.
A natural monopoly is one that deliberately erects entry barriers.
Answer the following statement true (T) or false (F)
The mainstream view among economists is that
a. society faces a tradeoff between unemployment and inflation, but only in the short run. b. society faces a tradeoff between unemployment and inflation, but only in the long run. c. society faces a tradeoff between unemployment and inflation, both in the short run and in the long run. d. no tradeoff exists between unemployment and inflation, either in the short run or in the long run.