Real GDP refers to nominal GDP adjusted for
a. depreciation.
b. price changes.
c. exports.
d. taxes and saving.
b. price changes.
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Banks create money by keeping a small percentage of deposits in reserves and __________ the remaining funds, charging interest.
a. lending b. spending c. saving d. investing
When the Fed buys bonds from the public, it
A. Increases the flow of reserves to the banking system. B. Decreases the money supply. C. Decreases the discount rate. D. Decreases the flow of reserves to the banking system.
Juanita goes to the Hardware Emporium to buy a new circular saw. She is willing to pay $120 for a new saw, but buys one on sale for $85. Juanita's consumer surplus from the purchase is
A) $35. B) $85. C) $120. D) $205.
In 2010, gross private domestic investment constituted ________ percent of nominal GDP
A) 70.4 B) 12.4 C) 18 D) -5.4