The process of money creation can be reversed:
a. when a person pays a loan back to a bank
b. when the government passes a law against it.
c. when customers begin to deposit money into banks.
d. when loans are extended to customers.
a
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The government component (G) of total output includes goods and services purchased by
a. the federal government plus transfer payments. b. all government institutions plus transfer payments. c. all government institutions. d. all government institutions plus tax revenues.
Specialization is a major obstacle to international trade
a. True b. False Indicate whether the statement is true or false
Who is credited for the original development of the model of aggregate demand and aggregate supply?
If average labor productivity increases, real GDP per person:
A. increases. B. may increase or decrease depending on the change in the share of population employed. C. remains constant. D. decreases.