Which of the following is incorrect? During the Great Recession U.S:
a. Wealth fell.
b. Unemployment duration rose.
c. Monetary base fell.
d. Inflation fell.
e. All of the above are correct.
.C
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Suppose an oil cartel has an agreement to restrict members' production in order to maintain a price of $30 per barrel. A single cartel member may want to cheat and exceed its quota so that it can:
a. reduce its costs. b. charge higher prices. c. make demand more inelastic. d. earn a bigger profit.
In the open-economy macroeconomic model, if investment demand increases, then
a. net exports and the real exchange rate rise. b. net exports rise and the real exchange rate falls. c. net exports fall and the real exchange rate rises. d. net exports and the real exchange rate fall.
The Federal Reserve has estimated that over ______ of all the U.S. currency being printed ends up being used as unofficial legal tender abroad.
A. one-fourth B. one-third C. one-half D. two-thirds
Considering state chartered banks:
A. most elect not to join the system. B. those with assets exceeding $100 million must join the Federal Reserve System. C. most elect to join the Federal Reserve System. D. only those that join the system must abide by reserve requirements.