Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation.
B. low economic growth and high inflation.
C. high economic growth and low inflation.
D. low economic growth and low inflation.
Answer: B
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The Board of Governors of the Federal Reserve System is
A) elected by the public. B) elected by members of the American Banking Association. C) appointed by the Congress. D) appointed by the President with approval of the U.S. Senate.
By the accelerator hypothesis, if a firm's actual sales jump in one period to a higher maintained level, that firm's capital stock
A) also jumps in one period to a higher maintained level. B) gradually drifts upward to a higher maintained level. C) jumps upward and then falls back to zero. D) jumps upward and then falls back part of the way.
The difference between accounting profit and economic profit is
a. explicit costs. b. implicit costs. c. total revenue. d. marginal product.
Liability management refers to:
A. a bank's handling of the assets in individual trust funds. B. how a bank attracts deposits and what it pays for them. C. how a bank manages its accounts receivable. D. a bank's handling of loans and other assets.