Nominal GDP is the value of goods and services
A) adjusted for inflation.
B) adjusted for anticipated inflation.
C) using base-year prices.
D) using current -year prices.
D
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The account that records changes in the U.S. government's holdings of foreign currency is the
A) capital and financial account. B) official settlements account. C) current account. D) U.S. official reserves account.
Jim, a U.S. citizen, works only in Croatia. The value added to production from his employment is:
A) included in only Croatian GNP. B) included only in U.S. GDP. C) included only in U.S. GNP. D) not included in either U.S. GDP or U.S. GNP.
How does the Fed reach its target for the federal funds rate?
A) by changing the discount rate B) by changing reserve requirements C) by adjusting the level of reserves D) by directly setting the federal funds rate
If the maintenance fees for a lighthouse are paid in full each year by charging port fees, then the lighthouse is: a. rivalrous and excludable
b. non-rivalrous and excludable. c. rivalrous and non-excludable. d. non-rivalrous and non-excludable.