Intervention by the U.S. government in the pricing of farm products began only after the post-World War II period
Indicate whether the statement is true or false
F
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Describe how actual reserves are calculated. Explain the difference between required reserves and excess reserves. How do reserves affect the amount of loans a bank can make?
What will be an ideal response?
If employees and employers always accurately forecast inflation, what is the shape of the Phillips curve?
a. It is vertical in the short run, and upward sloping in the long run. b. It is downward sloping in the short run, and vertical in the long run. c. It is upward sloping in the short run, and horizontal in the long run. d. It is vertical in the short run and long run.
During a recession:
a. Government spending automatically falls and taxes automatically rise. b. Government spending and taxes automatically fall. c. Government spending and taxes do not tend to change. d. Government spending rises automatically and taxes fall automatically. e. None of the above.
Between 1921 and 1929 national output rose about _____%.
Fill in the blank(s) with the appropriate word(s).