In the banking system of the United States, banks that wish to borrow to make up reserve deficiencies must turn to the federal funds market
a. True
b. False
Indicate whether the statement is true or false
False
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John Maynard Keynes noted that
A. we could print all the money we want and still have scarcity. B. "to secure the greatest amount of pleasure with the least possible outlay should be the aim of all economic effort." C. the general notion that scarcity is due to not having enough money is an illusion. D. we could print all the money we want and still have scarcity AND the general notion that scarcity is due to not having enough money is an illusion.
In the table above, the unemployment rate is
A) 12 percent. B) 10 percent. C) 8 percent. D) 6 percent. E) 11 percent.
If inflation is 10% and the nominal interest rate equals 16.6% the real interest rate is equal to
A) 6.6%. B) 6%. C) -6.6%. D) zero.
A perfectly competitive market is one in which:
A. fully informed, price-taking buyers and sellers easily trade a standardized good or service. B. fully informed, price-making buyers and seller easily trade a standardized good or service. C. uninformed, price-taking buyers and sellers easily trade a standardized good or service. D. uninformed, price-making buyers and seller easily trade a standardized good or service.