Assets are:
A. saving minus investment.
B. current income minus spending on current needs.
C. anything of value one owns.
D. stocks, bonds, and credit card balances.
Answer: C
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Durable consumer goods are goods that last more than
A. three years. B. five years. C. seven years. D. one year.
Which of the following financial institutions was acquired by Bank of America as a result of the financial crisis of 2007 and 2008?
A. Merrill Lynch B. Lehman Brothers C. Goldman Sachs D. AIG
Are credit cards money? Explain.
What will be an ideal response?
Which of the following is NOT a basis for the Taylor-rule guideline for how the Federal Reserve should set its target value for the federal funds rate?
A) the current deviation of the actual inflation rate from the Fed's inflation objective B) the gap between actual real GDP and a measure of potential real GDP C) an estimated long-run real interest rate D) the present deviation of the actual unemployment rate from the Fed's unemployment objective