Unemployment was particularly high during
A. The Korean War.
B. The 1980s.
C. The Great Depression.
D. World War II.
Answer: C
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Over half of U.S. currency is
A) held abroad. B) used in the underground economy. C) held by banks as reserves. D) held by businesses, especially retailers, for making transactions.
A rightward shift in the demand curve for a product will ordinarily result from
a. a decrease in the advertising budget. b. a decrease in the price of a competing product. c. an increase in consumer income. d. an increase in the price of a complementary good.
If the nominal interest rate is 8 percent and the real interest rate is 3 percent, then the inflation rate equals:
A. 5 percent. B. 8 percent. C. 11 percent. D. 3 percent.
Passage of the Depository Institutions Deregulation and Monetary Control Act of 1980
A. created uniform reserve requirements for all depository financial institutions. B. resulted in an increase in the number of financial institutions in the United States. C. discouraged the formation of big, nationwide, all-purpose financial institutions. D. meant that vault cash would no longer count toward bank reserves.