The original Phillips curve suggests a(n) __________ relationship between the rate of change in __________ and the __________
A) direct; prices; unemployment rate
B) inverse; money wage rates; unemployment rate
C) inverse; prices; unemployment
D) direct; money wage rates; money supply
E) inverse; money wage rates; money supply
B
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A commercial bank creates money when it does all the following except ______
A. decreases its excess reserves B. makes loans C. creates deposits D. puts cash in its ATMs
A simple deposit multiplier equal to four implies a required reserve ratio equal to
A) 100 percent. B) 50 percent. C) 25 percent. D) 0 percent.
In the short run,
a. all inputs are fixed. b. all inputs are variable. c. some inputs are fixed. d. no production occurs.
Julie is in the 28 percent tax bracket. She earns an 8 percent rate of return after taxes on a tax-free municipal bond. What will the after-tax rate of return be on a taxable bond (with equal risk)?
a. 36 percent b. 28 percent c. 14 percent d. 8 percent