If the inflation rate target is 2%, the current inflation rate is also 2%, and the output gap is zero, then according to the Taylor rule, the nominal federal funds rate should be ________ percent

The early goldsmiths issued money in the form of

a. coins made from gold in their safes. b. receipts for the acceptance of gold deposits. c. gold fragments left over from the production of jewelry. d. fully backed gold certificates.

Explain how a firm values the contribution of workers to its profitability. Would a profit-maximizing competitive firm ever stop increasing employment as long as marginal product is rising? Explain your answer