Which of the following is true about U.S. history prior to the 1950s?
a. The inflation rate remained constant during this period
b. Cost-push inflation led to depressions, which were followed by slowly-rising price levels.
c. The price level remained constant during this period.
d. Major wars resulted in high inflation rates, after which the inflation rate tapered off.
e. Major wars resulted in high inflation rates that were usually followed by deflation.
e
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The Earned Income Tax Credit replaced many government transfer programs
a. True b. False
As we move downward along a typical isoquant, the slope of the isoquant
A) becomes flatter. B) becomes steeper. C) remains constant. D) becomes linear.
What is the importance of measuring per capita GDP?
One key difference between the Fed and the European Central Bank (ECB) in their reserve requirements is that the:
A. reserve requirement of the ECB are determined annually. B. ECB reserve requirement is based on all of a bank's liabilities. C. reserve requirements of the ECB are at a much higher rate than the Fed's. D. ECB's reserve requirements are more difficult for banks to predict.