When economists are trying to explain the world, they are scientists. When they are trying to improve it, they are
policy advisers.
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Checking deposit are ________ the M1 measure of money and ________ the M2 measure of money.
A. excluded from; excluded from B. excluded from; included in C. included in; included in D. included in; excluded from
Income taxes create a wedge between the wage rate paid by ________ and received by workers and thereby ________ employment and ________ potential GDP
A) firms; raise; decrease B) households; lower; decrease C) firms; lower; decrease D) firms; lower; increase E) firms; raise; increase
Which of the following would be expected to increase the demand for U.S. currency?
A. The economy enters a recession. B. Competition among brokers forces down the commission charge for selling bonds or stocks. C. Online banking allows customers to transfer funds between checking and stock mutual funds 24 hours a day. D. Political instability rises dramatically in developing nations.
Given the following data, calculate the GDP.wages = $500government spending = $2,500private investment = $2,100rent = $100consumer spending = $7,800net exports = $300
A. GDP = $13,000 B. GDP = $12,700 C. GDP = $11,300 D. GDP = $12,000