Which of the following statements is correct?
A) Dynamic open market operations are carried out to offset fluctuations in the monetary base.
B) Defensive open market operations are carried out to change monetary policy.
C) The volume of defensive open market operations is much greater than the volume of dynamic open market operations.
D) Defensive open market operations are usually carried out through outright purchases or sales.
C
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If the Phillips curve was nearly horizontal, a: a. substantial increase in inflation would be caused by a decrease in unemployment
b. substantial decrease in inflation would be caused by a decrease in unemployment. c. substantial decrease in unemployment could be achieved with only a small increase in inflation. d. substantial increase in unemployment could be achieved with only a small increase in inflation.
Scarcity forces us to
a. limit our wants b. expand our resources c. produce more than we consume d. produce whatever we consume e. choose