Which of the following will be included in the calculation of GDP using expenditures to calculate it?
A) A worker's wage
B) A domestic producer's export of clothes
C) A firm's payment of employee bonuses
D) A bank's payment of interest to its customers
Answer: B) A domestic producer's export of clothes
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Suppose that a country becomes relatively better than other countries at producing wind generators, in this country
a. structural unemployment and so the natural rate of unemployment will increase. b. structural unemployment and so cyclical unemployment will increase. c. frictional unemployment and so the natural rate of unemployment will increase. d. frictional unemployment and the cyclical rate of unemployment will increase.
A currency devaluation is a(n):
A. increase in the official value of a currency in a fixed-exchange-rate system. B. decrease in the value of a currency relative to other currencies. C. reduction in the official value of a currency in a fixed-exchange-rate system. D. increase in the value of a currency relative to other currencies.
Who determines the open-market operations of the Federal Reserve System?
A. FOMC B. Board of Governors C. FHLBB D. FDIC
When the economy is operating at the equilibrium level of GDP, we know that
A) total planned real consumption expenditures equal real GDP. B) planned real investment spending equals real net exports of zero. C) total planned real expenditures equal real GDP. D) real net exports equal inventory changes.