GDP underestimates our economic well-being:
A. because it includes the value of work done by illegal immigrants.
B. because it includes the value of work done by nannies.
C. because it ignores leisure.
D. because it includes the value of work done by householders.
Answer: C
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The President of which of the following district banks of the Fed is perpetually present on the Federal Open Market Committee?
a. The New York Fed b. The Seattle Fed c. The Boston Fed d. The Chicago Fed e. The Atlanta Fed
Several states require cosmetologists to undertake 1,500 hours or more of training in order to obtain a license to provide hair styling or braiding services. This is an example of
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Federal Reserve Notes in circulation are:
A. an asset as viewed by the Federal Reserve Banks. B. a liability as viewed by the Federal Reserve Banks. C. neither an asset nor a liability as viewed by the Federal Reserve Banks. D. part of M1 but not of M2.