Defines the level of full-employment

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Reference no: EM13981394

Please help with review questions.

1. If banks operated under a 100 percent reserve system, commercial banks would not be able to create any further money.

True

False

2. A vertical curve that defines the level of full-employment or potential output based on a given amount of resources, efficiency, and technology in the economy is called:

a. the short-run aggregate supply curve.

b. the long-run aggregate supply curve.

c. the aggregate demand curve.

d. none of the above.

Reference no: EM13981394

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