Transfers of assets, such as stock sales are:
A. included in GDP because they increase domestic wealth.
B. included in GDP because they raise domestic production.
C. not included in GDP because they do not increase domestic wealth.
D. not included in GDP because they do not increase domestic production.
Answer: D
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For a typical product, an increase in consumer income will cause the market demand for the product to
a. decrease, which is a shift to the left of the demand curve. b. decrease, which is a shift to the right of the demand curve. c. increase, which is a shift to the left of the demand curve. d. increase, which is a shift to the right of the demand curve.
Aggregate income is the sum of:
A. employee compensation, rent, and profits. B. employee compensation, rent, profits, interest, and transfer payments. C. employee compensation and profits. D. employee compensation, rent, profits, and interest.
A real quantity is a quantity measured:
A. using real prices. B. in terms of current dollar value. C. in physical terms. D. by the average quantity.
Macro National Bank, a commercial bank, holds $1 million in vault cash, $15 million in government and corporate bonds, $40 million in demand deposits, $10 million on deposit with a Federal Reserve bank, and $8 million worth of property. What are Macro National Bank's total liabilities?
a. $40 million b. $48 million c. $50 million d. $51 million e. $65 million