GDP does not directly include:
a. the value of final goods and services produced, but not sold, during a period.
b. the value of services rendered during a period
c. the value of intermediate goods sold during a period.
d. any of the above.
Ans: c. the value of intermediate goods sold during a period.
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What is the present value of $100 two years from now at an interest rate of 6%?
A) $6 B) $89 C) $94.34 D) $106
The liquidity effect indicates that expansionary monetary policy causes
A) interest rates to fall. B) interest rates to rise. C) bond prices to fall. D) inflation.
When the economy goes through ups and downs over time:
A. it is not reflected by changes in GDP growth. B. economists call this pattern the business cycle. C. it affects the supply of labor. D. All of these are true.