The agency responsible for regulating the U.S. monetary system is the
a. U.S. Treasury
b. Federal Reserve
c. Department of Justice
d. Federal Trade Commission
b
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The Keynesian model
a. assumes a stable, downward sloping Phillips curve in the short run. b. implies a horizontal Phillips curve in the long run. c. shows that the Phillips curve is can be downward or upward sloping in the short run. d. differs from Friedman's analysis pertaining to the vertical long-run Phillips curve.
Samoa could produce either 3 coconuts or 12 pineapples per worker, while Guam could produce either 5 coconuts or 20 pineapples per worker. In this situation: a. if trade occurs, both countries will be able to consume beyond their original production possibilities frontiers. b. Guam will be better off if it exports coconuts and imports pineapples
c. both Samoa and Guam will be better off if Samoa produces both coconuts and pineapples. d. mutually beneficial trade cannot occur.
During the Great Depression in the United States between 1930 and 1933, banks' reserve/deposit ratio ________ and the amount of currency held by the public ________, while the money supply ________.
A. decreased; decreased; decreased B. increased; increased; decreased C. increased; increased; increased D. decreased; decreased; increased
A necessary condition for the operation of a perfectly competitive market is free entry and exit from the market.
Answer the following statement true (T) or false (F)