The U.S. economy in 2009 was characterized by an excess level of output. This corresponds to a recessionary gap.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Because transactions deposits can be withdrawn at any time, banks are exposed to
A) credit risk. B) liquidity risk. C) trading risk. D) interest risk.
The Sherman Act
A) prohibited banks from crossing states lines. B) prohibited railroads from transporting explosives. C) provided for the regulation of natural monopolies. D) declared that monopolization and restraint of trade were illegal.
The steeper the short-run aggregate supply curve over the relevant range, the more contractionary monetary policy will reduce prices and the less it will decrease real output
a. True b. False Indicate whether the statement is true or false
Most economists believe that the CPI
a. accurately measures the inflation rate b. accurately measures the inflation rate except during years when there are major economic shocks like the Arab oil embargo c. slightly underestimates the inflation rate d. seriously underestimates the inflation rate e. overstates the inflation rate