The Federal Reserve float is
A) items in process of collection - deferred credit items.
B) items in process of collection + deferred credit items.
C) deferred credit items - items in process of collection.
D) deferred credit items + items in process of collection.
A
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Refer to Figure 17-2. Suppose the economy is at point A. The Fed uses expansionary monetary policy to lower the unemployment rate permanently below the level associated with A. Which of the following will occur?
A) Inflation will accelerate in the long run. B) Unemployment will accelerate in the long run. C) Inflationary expectations will decline. D) Unemployment will rise above the natural rate.
Rising prices for a natural resource stimulate
A. the development of complements for the resource. B. the development of substitutes for the resource. C. the development of externalities from the resource. D. the tendency to consume before the resource expires.