At the full-employment level of GDP, the total value of goods demanded always equals the total value of goods supplied.
Answer the following statement true (T) or false (F)
False
This would be true only if macro equilibrium occurs at the full-employment level of output.
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With the Bretton Woods system of international exchange rates
A) the value of a country's currency was determined strictly by the laws of supply and demand. B) the value of a country's currency was determined by its stock of gold. C) there were fixed exchange rates, and most countries were obligated to intervene to maintain the values of their currencies within 1 percent of par value. D) a nation's balance of payments was eliminated.
During the three years following the financial crisis of 2008,
a. the monetary base more than doubled and the M1 money supply increased even more rapidly. b. the monetary base more than doubled, but the M1 money supply increased much less rapidly. c. the monetary base fell by almost 50 percent, but the M1 money supply continued to grow at a steady rate. d. the monetary base fell by almost 50 percent, causing a sharp reduction in the M1 money supply.