The long-run Phillips curve shows the relationship between
A) real GDP and the natural unemployment rate.
B) the nominal interest rate and real interest rate.
C) real GDP and potential GDP.
D) the inflation rate and the natural unemployment rate.
E) the inflation rate and the unemployment rate.
D
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If a monopolist's price is $50 per unit and its marginal cost is $25, then
A) to maximize profit the firm should continue to produce the output it is producing. B) to maximize profit the firm should decrease output. C) to maximize profit the firm should increase output. D) Not enough information is given to say what the firm should do to maximize profit.
Suppose that the banking system currency has no excess reserves and that a bank receives a deposit into a checking account of $10,000 in currency
If the required reserve ratio is 0.20, what is the maximum amount that the BANKING SYSTEM can lend out? A) $8,000 B) $10,000 C) $40,000 D) $50,000