The fate of the Second Bank of the United States? It
a. was lauded by Andrew Jackson and eventually became the Federal Reserve
b. was viewed as a great success by many southern and western banks
c. prospered because it took a positive view towards many speculative land ventures
d. disappeared because it could not issue its own notes
e. became just another bank in Pennsylvania by 1836
E
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
If aggregate demand in the U.S. had grown more slowly than it actually did in 2010, the
a. unemployment rate would have been even lower. b. inflation rate would have been even lower. c. unemployment rate would have been the same. d. economy would have grown faster.
The profit-maximizing level of output for any firm in a perfectly competitive market is to produce where:
A. MC > MR. B. MC < MR. C. MC = MR. D. MR = P*.
Some studies have found that saving is not very sensitive to the rate of return on saving
a. True b. False Indicate whether the statement is true or false