Unemployment occurs even during periods when the economy is growing.

In the long-run, profits will exist for firms in monopolistically competitive firms but not monopoly

Indicate whether the statement is true or false

Which one of the following statements concerning the National Bank Act is not true?

a. It required national banks to buy Treasury bonds equal to one third of their capital. b. It made banks subject to periodic bank audits. c. It reestablished confidence in the banking system. d. It led to a widespread conversion of banks from state to national charters. e. It levied a 10 percent annual tax on state-chartered bank-note issues.