The immediate impetus for the establishment of the Federal Reserve System came from
a. severe outbreaks of inflation in the early 1900s.
b. four severe banking panics between 1873 and 1907.
c. the discovery of gold in Alaska.
d. the desire to copy the founding of the Bank of England.
b
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The 2009 fiscal stimulus bill represented approximately
A. 5.5 percent of GDP and was designed to close the expansionary gap. B. 5.5 percent of GDP and was designed to close the recessionary gap. C. 7.8 percent of GDP and was designed to close the expansionary gap. D. 7.8 percent of GDP and was designed to close the recessionary gap.
As the price of good A rises, the demand for good B rises. Therefore, goods A and B are
A) normal goods. B) inferior goods. C) substitutes. D) complements. E) none of the above
The invention of new mining methods will affect price through the supply side.
Answer the following statement true (T) or false (F)
The accompanying figure shows Becky's daily production possibilities curve for dresses and skirts.
The maximum number of skirts that Becky can make in a day is represented by point:
A. V B. Z C. U D. T