The Federal Reserve System can be described as a bank for bankers.
Answer the following statement true (T) or false (F)
True
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Which of the following represents a long-run adjustment?
a. the hiring of four additional cashiers by a supermarket b. a cutback on purchases of coke and iron ore by a steel manufacturer c. construction of a new assembly-line plant by a car manufacturer d. the extra dose of fertilizer used by a farmer on his wheat crop
Which of the following helped the U.S. economy recover following the recession of 2001?
a. The U.S. government increased spending to fight the war on terror. b. A series of corporate scandals decreased consumer confidence. c. The U.S. government increased interest rates to boost saving. d. Consumers rapidly increased their purchases and increased aggregate demand.
?
Macro AD-AS Model
?In Exhibit 10A-4, the level of real GDP represented by Yp:
A. ?would be associated with considerable unemployment. B. ?indicates that the economy is experiencing zero inflation. C. ?indicates that the economy is experiencing a recessionary gap. D. ? is potential real GDP for this economy.
Which of the following is an example of a product that is sold primarily in a local market?
A. Milk B. Butter C. Oil D. Cheese