Which of the following statements is TRUE about the planning horizon?
A) All inputs are fixed.
B) All inputs are variable.
C) There are fixed and variable inputs.
D) Costs do not exist.
Answer: B
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Frictional and structural unemployment both exist when
A) the economy is at the peak of the business cycle. B) the economy is in long-run equilibrium. C) the economy is in an expansionary phase. D) the economy is in short-run equilibrium.
When the Fed buys government securities
A) reserves increase, leading to a decrease in the money supply by an amount more than the purchase of the government securities. B) reserves increase, leading to a increase in the money supply by an amount more than the purchase of the government securities. C) reserves decrease, leading to a increase in the money supply by an amount more than the purchase of the government securities. D) reserves decrease, leading to a decrease in the money supply by an amount more than the purchase of the government securities.