The following are incomes earned but not received by the nation's households, except:
A. Corporate income taxes
B. Social security contribution
C. Transfer payments
D. Undistributed corporate profits
C. Transfer payments
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When you open a checking account at Bank of America, Bank of America
A) has more deposits, but excess reserves remain unchanged. B) has more reserves, but excess reserves remain unchanged. C) has more reserves and more excess reserves. D) has more deposits and less in excess reserves.
From 1950 till 2009 the four-quarter growth rate of real GDP has been as high as ________ percent and as low as ________ percent
A) 8.1; -2.8 B) 12.6; -3.9 C) 3.2; 2.5 D) 5; -10
Economic models have become much simpler in recent years
Indicate whether the statement is true or false
The velocity of money is
a. the rate at which the Fed puts money into the economy. b. the same thing as the long-term growth rate of the money supply. c. the money supply divided by nominal GDP. d. the average number of times per year a dollar is spent.