he Federal Reserve decided to buy bonds in order to bring the economy back to full employment. This must mean that the Federal Reserve believes that the full employment level of output is a not enough information b below 1 million c exactly 1 million d above 1 millio
he Federal Reserve decided to buy bonds in order to bring the economy back to full employment. This must mean that the Federal Reserve believes that the full employment level of output is a not enough information b below 1 million c exactly 1 million d above 1 millio
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The Federal Reserve decided to buy bonds in order to bring the economy back to full employment. This must mean that the Federal Reserve believes that the full employment level of output is
a
not enough information
b
below 1 million
c
exactly 1 million
d
above 1 million
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However the wuestion assume that the economy starts in equilibrium:
-the output is 1 million
-the
-the money supply is 1 trillion
-the price level is 150
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