Which of the following is most accurate?
a. The US has always had a national bank since the early 1800s.
b. The US is currently on the gold standard.
c. The US used both gold and silver to back its currency during the entire 19th century.
d. The US experienced low inflation during the 1970s because it printed very little money.
e. The US Federal Reserve is relatively independent compared to similar institutions in most other industrialized nations.
e. The US Federal Reserve is relatively independent compared to similar institutions in most other industrialized nations.
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List four protectionist policies
What will be an ideal response?
In the short run, if aggregate demand shifts to the left while the position of the short-run aggregate supply curve does NOT change, then
A) the level of economic activity rises. B) a recessionary gap occurs. C) there is no change in real GDP and the price level. D) an inflationary gap occurs.