In the United States, the inflation rate has
A) remained almost constant over the past 25 years.
B) risen and fallen since the 1970s.
C) fallen as a result of OPEC oil price hikes.
D) risen constantly over the past 30 years.
B
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How will the purchase of $100 million of government securities by the Federal Reserve change bank reserves and total checking account deposits in the banking system as a whole? Assume that banks do not hold any excess reserves, that households and
firms do not change the amount of currency they hold, and that the required reserve ratio is 20 percent.
An estimate is
A) efficient if it has the smallest variance possible. B) a nonrandom number. C) unbiased if its expected value equals the population value. D) another word for estimator.
An industry dominated by one firm is
A. monopolistic competition B. perfect competition C. a monopoly D. an oligopoly
If living standards in a country, as measured by output per person, decrease, then total output must have:
A. decreased more slowly than population decreased. B. increased more slowly than population increased. C. increased more rapidly than population increased. D. increased at the same rate that population increased.