Refer to the diagram below. If box E represents government, box C businesses, box D the resource market, and box B the product market, then government hiring of teachers, soldiers, police, and judges would be illustrated by arrows:

On average, college graduates earn significantly more income than those with less education and the disparity tends to widen into middle age

a. True b. False

Since the Federal Reserve was established in 1913, the U.S. has experienced three periods of high inflation and each was preceded and accompanied by a period of sharp decline in the money supply

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