In the 1990s, the unemployment rates in the U.S. were higher than that in the European nations
a. True
b. False
Indicate whether the statement is true or false
False
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In Figure 13-2 above, suppose that the Fed maintains a constant interest rate, commodity prices are fixed, and that commodity demand is unstable ranging from IS0 to IS1. Equilibrium real output would then range from
A) A0 to A1. B) B0 to B1. C) C0 to C1. D) Insufficient information.
A firm will hire additional units of any input up to the point where
a. the marginal productivity of the input is maximized. b. the marginal cost of employing the input is minimized. c. the expense of employing the last unit is equal to the revenue brought in by the last unit. d. the revenue brought in by the input is maximized.
Monetary policy affects real GDP by.
A. Changing aggregate supply B. Creating budget surpluses C. Changing aggregate demand D. Creating budget deficit
As of December 31, 2010, the assets listed on the balance sheet of Bank A were $1.5 million in cash reserves and $6 million in outstanding loans to its customers. Its liabilities totaled $6.5 million in checking deposits. What was the bank’s net worth on that date?
A. $1 million B. $4.5 million C. $5 million D. $14 million E. Zero