Unlike the Bank of Canada, the Bank of France, the Bank of England, and other central banks in democratic market economies, the Federal Reserve System is owned by the government

Stagflation is defined as an unhealthy combination of a stagnating economy and high inflation

a. True b. False Indicate whether the statement is true or false

The theory of adaptive expectations points out that when a shift in aggregate demand occurs, people and businesses will rationally expect its impact on output and employment to be temporary and its impact on the price level to be permanent

a. True b. False Indicate whether the statement is true or false