Before the Great Depression, macroeconomic theory was dominated by the ________ approach that presumed the essential ________ of the private economy

Stabilization of business cycle fluctuations focuses on the long run

Indicate whether the statement is true or false

If banks are currently holding zero excess reserves and the Fed raises the required reserve ratio, which of the following will happen?

A) Banks will have a reserve deficiency. B) Banks will have positive excess reserves. C) Banks will begin to extend more loans. D) Banks will begin to extend more credit. E) b and d