The years from 1945 to 1973 are notable for ________
A) a Great Moderation
B) generally low inflation
C) brief, but severe, recessions
D) all of the above
E) none of the above
B
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If official reserves increase, then we know that the
A) capital and financial account is positive. B) official settlements account balance is negative. C) capital and financial account and the current account must sum to zero. D) capital and financial account is negative. E) official settlements account balance is positive.
Full employment is the level of unemployment that occurs
A) when everyone looking for a job has a job. B) when cyclical unemployment is zero. C) when frictional and structural unemployment are zero. D) when frictional, structural, and cyclical unemployment are zero. E) None of the above answers is correct.