The Federal Reserve was originally created to
a. stabilize exchange rates
b. keep the unemployment rate at 0%
c. create jobs
d. issue bonds
e. create and regulate the U.S. money supply
E
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When the unemployment rate is less than the natural unemployment rate, real GDP is ________ potential GDP
A) greater than B) unrelated to C) not comparable to D) equal to E) less than
GDP can be measured in terms of expenditures but not income, since income is subject to taxation
a. True b. False Indicate whether the statement is true or false
Using the above table, a unit tax of $2 is imposed on the product. How much of the tax is paid by the producer?
A. $3 B. $2 C. $1 D. unable to determine
A kingdom where only the king earns all income would have a Gini ratio of:
A. 100 B. 0 C. 1 D. 2