Membership in the Group of Seven consists of both developed and developing countries.
Answer the following statement true (T) or false (F)
False
This group involves the most powerful developed economies in the world.
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If the aggregate supply curve shifts outward, then unemployment
a. and inflation will both decrease. b. and inflation will both increase. c. will increase and inflation will decrease. d. will decrease and inflation will increase.
Game theory may be used to solve problems of interdependent decision making by large firms.
Answer the following statement true (T) or false (F)
An increase in the federal funds rate could be caused by:
A. an open market purchase of government securities. B. an increase in the excess reserves of the banking system. C. an increase in the reserve requirement. D. a cut in the discount rate.
If the demand for a product rises and the supply stays the same
A. both the market clearing price and the equilibrium quantity will rise. B. the market clearing price will fall and the equilibrium quantity will rise. C. both the market clearing price and the equilibrium quantity will fall. D. the market clearing price will rise and the equilibrium quantity will fall.