Short-term loans between banks are called

Assumptions that output is fixed and factor prices have adjusted to reach the level of full employment are:

a. useful for long-run analysis. b. necessary for short-run analysis. c. unrealistic to the extent that economists should not make such assumptions. d. always true and therefore useful both in the long run and short run.

From the 1960s through the 1990s military expenditures increased as a percentage of GDP and they were a major influence in the continued growth of government outlays

a. True b. False