At any given moment there is one exchange rate:
a. for all the world's currencies
b. for currencies in the free world.
c. between every pair of currencies.
d. established by the Federal Reserve System.
c
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At the potential level of output, there is no seasonal unemployment
a. True b. False Indicate whether the statement is true or false
Classical economists believe that the economy tends naturally toward
a. full employment and zero inflation equilibrium without government interference b. zero unemployment and zero inflation as long as the Federal Reserve keeps interest rates low c. high unemployment unless the Federal Reserve constantly adjusts the money supply d. high inflation unless the government curbs its spending habits and cuts tax rates to spur economic activity e. monetary equilibrium as long as money velocity is less than one