The income approach to calculating GDP:
A. will generate the same answer as using the expenditure approach.
B. is less accurate than using the expenditure approach.
C. is more accurate than using the expenditure approach.
D. is simpler to calculate than the expenditure approach.
Answer: A
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
When the economy is operating at a level of real GDP that is greater than its potential level, we know that
A) the structural rate of unemployment is negative. B) the frictional unemployment is zero. C) the actual unemployment rate is greater than the natural rate of unemployment. D) the cyclical rate of unemployment is negative.
If real income per person was $47,210 in the U.S. in 2010, and $55,860 in 2014, what was the annual growth rate over this time period?
a. 4.29 percent per year b. 1.83 percent per year c. 8.45 percent per year d. 1.18 percent per year
Member banks of the Federal Reserve System include:
A. nationally chartered banks and all state chartered banks. B. only nationally chartered banks. C. all state chartered banks with assets exceeding $100 million. D. nationally chartered banks and state chartered banks that decide to join.