The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________.  

In 2008, the Treasury and Federal Reserve took several actions in response to the deepening financial crisis. One action was the Treasury's move to have the federal government take control of

A) JPMorgan Chase. B) Fannie Mae and Freddie Mac. C) the Federal Deposit Insurance Corporation (FDIC). D) Lehman Brothers.

Critics of fixed exchange rates argue that fixed rates: a. reduce uncertainty in international trade

b. result in currency shortages just as wage and price controls lead to shortages in markets for goods and services. c. make nations less constrained in carrying out in internal macroeconomic policies. d. lead to constant, day-to-day changes in the exchange values of currencies.