Recessions can sometimes last less than a single year
a. True
b. False
A
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
Figure 6-3
In Figure 6-3(a), at any price above $6, quantity demanded
A. falls to zero. B. becomes infinitely large. C. equals price. D. equals the elasticity of demand.
The financial crisis of 2007-2009 worsened after the failure of which firm?
A) General Motors B) Lehman Brothers C) Bear Stearns D) American International Group (AIG)
The required reserve ratio is the:
a. actual amount of reserves that banks must hold. b. excess amount of reserves that a bank must hold. c. minimum amount of reserves the Fed requires a bank to hold. d. total amount of reserves that banks hold at all times. e. maximum amount of reserves that banks can hold to remain liquid.