An open market purchase of government securities by the Fed would shift the aggregate demand curve leftward
Indicate whether the statement is true or false
FALSE
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Answer the following statement(s) true (T) or false (F)
1. In a contestable market with room for many firms, industry output will be the same as in a successful cartel. 2. The Cournot oligopoly model is based on the assumption that firms treat their rivals' output as fixed and given. 3. Firms' total output is higher in the Cournot oligopoly model than in the Bertrand oligopoly model. 4. In both competition and monopolistic competition, free entry and exit guarantee that the industry's output is produced at the least possible cost. 5. Social welfare would be increased if a monopolistically competitive industry were replaced with a competitive industry.
In the model of the money supply process, the Federal Reserve's role in influencing the money supply is represented by
A) both the required reserve ratio and the market interest rate. B) the required reserve ratio, nonborrowed reserves, and borrowed reserves. C) only borrowed reserves. D) only nonborrowed reserves.
The methods of financing state school systems have never been judged to be unconstitutional
Indicate whether the statement is true or false
When you pay $6 for breakfast burritos for your drive to work, you are using money as a(n)
A. medium of exchange. B. investment good. C. store of value. D. unit of account.