The country of Bananaland has an abundant supply of banana trees and therefore must be a modern industrial economy
a. True
b. False
B
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If the value of the output generated by a country's factors of production within the borders of foreign countries is higher than the value of output of foreign factors of production within its borders, ________
A) the GDP of the country is higher than its GNP B) the GDP of the country equals its trade balance C) the GDP of the country equals its GNP D) the GDP of the country is lower than its GNP
In the next three years, the federal tax system could be replaced with a national retail sales tax.
A. True B. False C. Uncertain
How does the interest paid on reserves set a floor for the federal funds rate?
What will be an ideal response?
International reserves are
a. foreign exchange held by governments only b. foreign exchange held by central banks only c. foreign exchange held by governments or central banks d. gold only e. various internationally acceptable assets