Your income will increase if the Federal Reserve buys a Treasury bill from you and pays you with a check from the Fed
Indicate whether the statement is true or false
FALSE
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The aggregate production function shows us that increasing the number of workers employed will increase output at a constant rate
a. True b. False
Which of the following is a true statement?
a. Unanticipated inflation is a change in the general level of prices that catches most decision makers by surprise. b. High and variable rates of inflation are easy for decision makers to forecast accurately. c. High and variable rates of inflation can increase GDP by reducing investment. d. When decision-makers are able to anticipate slow, steady rates of inflation, prices become more unstable and there is a negative impact on the level of prosperity.
Which of the following correctly describes the federal budget?
a. The federal budget is a plan that describes Fed's monetary policy for the current financial year. b. The federal budget is an aggregate profit and loss statement for all of the nation's business firms. c. The federal budget is the sum of the spending plans of the 50 states. d. The federal budget is a plan for federal government outlays and revenues for a specified period, usually a year.
If there were no factors keeping wages from reaching equilibrium then there would be no
a. cyclical unemployment. b. frictional unemployment. c. structural unemployment. d. natural rate of unemployment.