Which of the following is correct?
a. Although levels of real GDP per person vary substantially from country to country, the growth rate of real GDP per person is similar across countries.
b. Productivity is not closely linked to government policies.
c. The level of real GDP per person is a good gauge of economic prosperity, and the growth rate of real GDP per person is a good gauge of economic progress.
d. Productivity may be measured by the growth rate of real GDP per person.
c
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If the Fed wishes to reduce inflation then it should
a. increase the discount rate. b. decrease reserve requirements. c. buy government securities on the open market. d. Do any of the above.
The most detrimental effect of the 1999 repeal of the Glass-Steagall Act was that it
A. was a major contributor to the financial crisis of 2008. B. was a major detriment to mergers of financial institutions. C. American financial institutions were less able to compete with their European counterparts. D. increased the differentiation among banks, securities firms, and insurance companies.
The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
What are "cash-out refinancings"?
What will be an ideal response?