An economic model is a detailed version of an economic environment

Indicate whether the statement is true or false


FALSE

Economics

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A move up, along the short-run Phillips curve represents a decrease in the unemployment rate.

Answer the following statement true (T) or false (F)

Economics

In the simple deposit expansion model, if the Fed extends a $100 discount loan to a bank that previously had no excess reserves, the bank can now increase its loans by

A) $10. B) $100. C) $100 times the reciprocal of the required reserve ratio. D) $100 times the required reserve ratio.

Economics

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What will be an ideal response?

Economics

In a perfectly competitive market, the products sold can be described as:

(a) Homogenous; (b) Complementary; (c) Close substitutes; (d) Both (a) and (c) are correct.

Economics