If the price of beef rose and the demand for chicken increased, then beef and chicken are:
a. Substitute goods
b. Consumer goods
c. Inferior goods
d. Complementary goods
a. Substitute goods
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Empirical evidence shows that the short-run Phillips curve was vertical during the 1950s and 1960s
Indicate whether the statement is true or false
You turn to the bond market page of a newspaper and look under the column headed "Net Chg" and see that it says, "-1/4" this indicates that
A. the closing price for the bond on this particular day was $2.50 lower than on the previous day. B. the closing price for the bond on this particular day is $0.25 lower than on the previous day. C. the yield for the bond has fallen by 0.25% compared to the previous day. D. the yield for the bond has fallen by 0.25% compared to exactly one year ago.
If you deposit $500 cash into your account at a commercial bank. If it faces a 10 percent required reserve ratio, as a result of your deposit, the bank will:
a. have $450 of additional excess reserves. b. be capable of lending an additional $5,000. c. be capable of lending an additional $500 d. have $50 of additional excess reserves.
If the economy is producing Natural Real GDP, then the
A) current unemployment rate is greater than the natural unemployment rate. B) current unemployment rate is less than the natural unemployment rate. C) economy is at full employment. D) economy is operating at the natural unemployment rate. E) c and d