Which of the following transactions would increase GDP?
a. a new tricycle purchased at a department store sale by the parents of a three-year-old child
b. the retirement check your uncle received for spending 25 years in the Marine Corps
c. the five shares of Microsoft stock your grandparents gave you for making an A in economics
d. the $200 you lost when your wallet was stolen
A
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Which of the following financial intermediaries is NOT a depository institution?
A) a savings and loan association B) a commercial bank C) a credit union D) a finance company
In a two-period model, as long as wealth effects are small, an increase in the world real interest rate
A) increases consumption and increases the current account surplus. B) increases consumption and decreases the current account surplus. C) decreases consumption and increases the current account surplus. D) decreases consumption and decreases the current account surplus.
High transaction costs will tend to
a. reduce the number of mutually beneficial exchanges that occur. b. allow easier specialization according to the law of comparative advantage. c. increase the value created by exchanges in an economy. d. increase the number of mutually beneficial exchanges that occur.
Another term for a stockbroker is an account representative
Indicate whether the statement is true or false