Which of the following people would be counted as employed?
a. A retired naval officer
b. A high school student
c. A stay-at-home father
d. A teenager who has given up looking for work after a year of trying
e. A ski instructor who is working during the summer
e
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Which action could the Fed use to decrease the money supply?
A) a tax increase B) a decrease in the discount rate C) an increase in the required reserve ratio D) an open market purchase
How do the banks create money?
A. When there is a decrease in checking account deposits, banks lose reserves and reduce their loans, and the money supply expands B. When there is an increase in checking account deposits, banks gain reserves and make new loans, and the money supply expands C. Banks buy bonds in the open market and gain reserves; this excess reserve holding increases the money supply