Consumption expenditure includes
a. the production of consumption goods not sold and held in inventory.
b. the purchase of consumption goods made domestically but consumed by foreigners.
c. purchase of goods and services by local government.
d. services, durables, and non-durable goods.
D
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Institutions that borrow money from savers to lend to borrowers are known as
A) financial markets. B) bond brokers. C) financial intermediaries. D) asset exchanges.
The double taxation of saving creates a bias towards _____
a. investment b. consumption c. luxury spending d. the future
When the required reserve ratio is 15% and a banks deposits are $100 million, the bank is required to put $1 million into required reserves
a. true b. false
Which of the following transactions would be included in the calculation of Gross Domestic Product (GDP)?
A. the purchase of a second-hand lawnmower from your neighbor B. the purchase of a share of stock in Apple C. the purchase of wheat by a baker to make bread D. the purchase of legal services