Demand-pull inflation is most pronounced during a recession (as opposed to the recovery phase of the business cycle)

Which of the following statements is true?

A) The growth rate of South Korea has been less than the growth rate of the United States over the last 40 years. B) The United States and the United Kingdom have recorded a growth rate of over 10% per annum in the last 40 years. C) The gap between the GDP per capita of the United States and Singapore has increased over the last 40 years. D) The gap between the GDP per capita of the United States and China has decreased over the last 40 years.

The Fed's objectives present it with a true dilemma when

a. there are demand shocks caused by shifts in money demand b. there are demand shocks caused by changes in spending c. there are negative supply shocks d. cyclical unemployment exists e. there is member bank opposition