Which of the following would be included in the calculation of GDP?
(A) Time and effort spent shopping for your household.
(B) Paying your nephew to mow the lawn.
(C) Purchasing a new vehicle.
(D) Selling your car to a friend.
Ans: (C) Purchasing a new vehicle.
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The real balances effect is caused by an inverse relationship between the price level and the real value of financial assets with fixed nominal value
a. True b. False Indicate whether the statement is true or false
At what price level would RGDP demanded be $19 trillion?
a. 50
b. 60
c. 70
d. 80
Unanticipated inflation arbitrarily:
A. "penalizes" those who borrow money. B. "taxes" those who receive fixed money incomes. C. "benefits" those who save money. D. "subsidizes" those who receive fixed money incomes.
What are the three main functions a central bank performs in its role as a bankers bank?
What will be an ideal response?