GDP overstates our economic well-being
a. when household services are ignored
b. when it fails to account for the underground economy
c. when there are technological improvements
d. when people litter
e. when people moonlight
D
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A bank reports reserves of $100,000, government securities of $50,000, loans of $750,000, and checkable deposits of $900,000. The desired reserve ratio is 10 percent. What is the amount of excess reserves for this bank? Show your work
What will be an ideal response?
All of the following are examples of capital except:
a. the robot used to help produce your car. b. a computer used by your professor to write this exam. c. the factory that produces the costume jewelry you buy. d. the inventory of unsold goods at your local hardware store. e. an uncut diamond that you discover in your backyard.
People often choose to specialize and trade because:
A. it always allows them to produce at a point beyond their own production possibilities frontier. B. they can take advantage of another nation's poor choices. C. they can consume a bundle of goods on their production possibilities frontier. D. it will allow them to enjoy more goods than they can create on their own.
The Dodd-Frank Act attempts to prevent future financial crises by making major changes to the U.S. financial system, including
A. increasing banks' reserve requirements. B. increasing capital requirements for banks. C. reducing the interest rates banks can charge their customers for loans. D. paying banks interest on their reserve holdings.