A country producing a combination of 9 units of guns and 6 units of butter would be _____________ (outside/on/inside) the production possibilities curve.
on
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During a period of inflation, the Fed is likely to
a. sell government bonds to banks in order to reduce the amount of loanable funds in the market b. buy government bonds from banks in order to reduce the amount of loanable funds in the market c. raise taxes in order to reduce the money supply d. cut the legal reserve requirement in order to reduce the amount of excess reserves banks have to loan out e. cut the discount rate in order to increase the affordability of loanable funds
Inflation
A) is a continuing decline in the general level of prices of goods and services. B) implies that the number of people unemployed has risen. C) reduces the purchasing power of the dollar. D) is an increase in the price of a single good or service.
Disinflation took place in all of these periods except
A. the early 1950s. B. the mid-1970s. C. the early 1980s. D. the late 1980s.
The millions of taxpayers who must pay for a federal government bail-out of the financial giant AIG will not be well represented at the hearings on the issue, because
What will be an ideal response?