The Fed purchases $1 million of U.S. government securities from First Bank. The desired reserve ratio is 10 percent, the currency drain ratio is zero, and banks loan all excess reserves. The money multiplier is equal to

When the natural unemployment rate increases, the short-run Phillips curve ________ and the long-run Phillips curve ________

A) shifts rightward; shifts rightward B) does not shift; shifts leftward C) shifts rightward; does not shift D) shifts leftward; does not shift E) shifts leftward; shifts rightward

Which statement is false?

A. During the 19th century the main cash crops grown in the South were cotton, rice, sugar, and tobacco. B. The only real economic conflict between the North and the South before the Civil War was over slavery. C. It took most parts of the South about a century to recover economically from the effects of the Civil War. D. Southern agriculture developed very differently from agriculture in other regions of the nation.