In the long run, the Fed may decrease the unemployment rate only if it is willing to increase the rate of inflation
Indicate whether the statement is true or false
FALSE
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What is the difference between "shutting down temporarily" and "exiting the industry"?
What will be an ideal response?
A bank has a 10 percent reserve requirement, $36,000 in loans, and has loaned out all it can given the reserve requirement
a. It has $3,600 in deposits. b. It has $32,400 in deposits. c. It has $39,600 in deposits. d. It has $40,000 in deposits.
Forest lives in complete isolation in Montana. He is self-sufficient and feeds himself through hunting, fishing, and farming. Which of the following statements about Forest is true?
A. Forest has to make trade-offs. B. Forest has unlimited resources. C. Forest is not required to make trade-offs because he is self-sufficient. D. Forest doesn't have to consider costs and benefits.
Scarcity exists when:
A) a choice must be made among two or more alternatives. B) we face the notion of "all other things unchanged." C) countries and people find themselves facing poverty. D) the notions of normative economics come into play.