Which one of the following statements concerning the Second Bank of the United States is not true?
a. It was created by Congress to stabilize the money supply.
b. Its constitutionality was a presidential election issue.
c. It lost its charter during Andrew Jackson's presidency.
d. Its power was undermined when Andrew Jackson shifted Treasury funds from it to state banks
e. It instructed northern banks not to accept bank notes from some southern and western banks.
C
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Keynes and his followers believed that
A) the economy could not operate at any level of real Gross Domestic Product (GDP) less than full capacity. B) capitalism was one economic system that guaranteed full employment. C) wages and prices in the short run were flexible. D) there was no guarantee that a capitalist economy would reach a full employment equilibrium.
Suppose that 50 percent of the part-time workers of Metropolis are looking for full-time jobs
Given the data in Table 6.1, if these workers were counted as not employed and looking for work, the unemployment rate of Metropolis would be approximately A) 6 percent. B) 13 percent. C) 16 percent. D) 21 percent.