Answer the following statements true (T) or false (F)
1. The value of money in the United States is based on the stock of gold and silver held by the United States government.
2. The Federal Reserve System is independent of Congress and the President, and does not have to follow orders from either Congress or the President.
3. The Federal Open Market Committee (FOMC) regulates markets and enforces antitrust laws to keep markets open and competitive.
4. The Federal Reserve System is the institution that issues the U.S. paper currency or dollar bills.
5. The general public can open deposit accounts at their district's Federal Reserve Bank.
1. False
2. True
3. False
4. True
5. False
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If labor productivity growth slows down in a country, this means that the growth rate in ________ has declined
A) the quantity of goods or services that can be produced by one hour of work B) nominal GDP C) labor force participation D) the working-age population Article Summary According to the Office for National Statistics in the United Kingdom, productivity in the UK in 2014 was well below the average of the G7 countries, only faring better than Japan. The G7 is a group of the seven most industrialized countries, and includes Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. Compared to the G7 average, the UK was 20% less productive per hour worked, and output was also 20% worse when measured on a per worker basis. The productivity gap was the largest for the UK since estimates began in 1991. Worker productivity was lower in all of the G7 nations in 2014 than it would have been had trends prior to the 2007-2009 recession continued, with the productivity gap of 18 percent in the UK significantly higher than the 7% gap for the other G7 nations. In terms of output per hour worked, the UK was behind Germany, France, and the United States by 32 to 33 percentage points. Source: "UK's poor productivity figures show challenge for government," Guardian, September 18, 2015.
The ________ relation indicates that the interest differential between investments in two currencies will equal the forward premium or discount between the currencies
A) Fisher equation B) interest rate parity C) purchasing power parity D) term structure of interest rates
According to the Gordon-Growth model, what is the value of a stock with a dividend of $2, required return on equity of 8% and expected growth rate of dividends of 4%?
A) $25 B) $26 C) $50 D) $52
Total factor productivity encompasses
A) labor. B) capital. C) output. D) know-how.