Which of the following is true?
a. At below the natural rate of unemployment, the economy is considered to be beyond full employment.
b. At above full employment, the economy is producing more than potential output
c. At above full employment, unemployment would be below its natural rate.
d. All of the above are true.
d
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If we moved from point T to point R we would be
A. giving up trips for more transplants.
B. giving up transplants for more trips.
C. gaining both trips and transplants.
D. losing both trips and transplants.
In the balance sheet for the FBN bank above, the entries are in millions of dollars. If the desired reserve ratio is 10 percent, FBN Bank can loan an additional
A) $280 million. B) $200 million. C) $100 million. D) $360 million.
The demand curve for the product of a perfectly competitive firm is
A) downward sloping. B) upward sloping. C) perfectly inelastic. D) perfectly elastic.
On the eve of the Civil War, which U.S. region had the highest per capita income?
a. the Northeast region b. the South Atlantic region c. the North Central region d. the West South Central region