During recession, banks become increasingly hesitant to make loans
a. because they typically hold zero excess reserves
b. because borrowers are more numerous than in any other phase of the business cycle
c. because they want to create lower consumer spending
d. because they expect the recovery phase that follows will cause inflation
e. and are more willing to hold greater excess reserves
E
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A unit of account
A) is a type of accounting of how many currency units there are in an economy. B) is an accounting of the total units of goods and services produced in an economy. C) is an agreed measure for stating the prices of goods and services in an economy. D) is a type of value stored within all assets.
Studies and recent experience suggest that there is considerable potential for substitution between doctors and nurses in the production of health care services
Indicate whether the statement is true or false