The goal of President Obama's stimulus package and increased government spending following the deep economic downturn in 2008 and 2009 was to reduce inflation
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following situations describing a resource allocation method most resembles the force method?
A) Seventy percent of Austin's chess club wanted to purchase new chess sets and thirty percent did not. The club purchased the sets. B) Lattes are sold at Starbucks. C) Food from the Weld County Food Bank is distributed to families in need. D) Mandy saved her allowance to buy a 12 pack of cream soda. When Mandy's brother saw the soda, he took four. E) Jose works at Intel. His manager tells him what work needs to be completed each month.
A monopolist can earn economic profits in the long run because
A) a monopoly is by definition large, and this gives it the ability to make large profits. B) a monopoly makes the good or service better than anyone else. C) barriers to entry prevent new firms from entering the industry. D) monopolies can legally force people to buy their products and to pay more for them than they are worth.
Nominal GDP is based on prices prevailing when production takes place
Indicate whether the statement is true or false
If a bank subject to a 10% required reserve ratio has $10,000 in excess reserves, it can extend, at a maximum, which quantity of new loans?
A. $1,000 B. $9,000 C. $10,000 D. $100,000