The earliest statement of the principle of comparative advantage is associated with

Suppose that the Fed undertakes an open market purchase of $1 million worth of securities from a bank. If the required reserve ratio is 9%, what is the resulting change in checkable deposits (or the money supply), assuming that there are no cash leakages and that banks hold zero excess reserves?

A) $11.11 million B) $9 million C) $1.09 million D) $90 million

The long-run aggregate supply curve slope is horizontal.

Answer the following statement true (T) or false (F)