_____ improves exchangeability, and reduces the cost of obtaining information about a good and about the parties involved in the transaction

If the Fed were to allow unemployment to remain at a higher level than NAIRU:

A. It would lead to deflation. B. the dual mandate would be violated. C. they would fail to maintain full employment. D. All of these statements are true.

Which of the following statements best describes excess supply, or surplus?

a. The area between the supply and demand curves above the equilibrium point is called excess supply, or surplus. b. The area between the supply and demand curves below the equilibrium point is called excess supply, or surplus. c. The area between the supply and demand curves to the right of the equilibrium point is called excess supply, or surplus. d. The area between the supply and demand curves to the left of the equilibrium point is called excess supply, or surplus.