The Fed has adopted an interest rate target for most of the time since World War II
Indicate whether the statement is true or false
TRUE
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
A consequence of a negative externality is that social costs __________ private costs, and the socially optimal level of output __________.
A. equal; is not equal to social costs or private costs B. do not equal; is obtained C. do not equal; is not obtained D. equal; is obtained E. equal; is not obtained
A bank can only loan out its excess reserves
Indicate whether the statement is true or false
Loans generally require equal payments over a set period of time.
a. true b. false