Which of the following would be included in GDP?
a. Production of computers by IBM in Japan
b. The value of a car.
c. The commission on the sale of your house.
d. The value of childcare provided at home by the child's mother.
C
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Explain and demonstrate graphically how targeting nonborrowed reserves can result in federal funds rate instability
What will be an ideal response?
The economic behavior of individual decision makers and the determination of price and output in specific markets are both studied in
a. microeconomics b. macroeconomics c. positive economics d. normative economics e. disequilibrium economics
If the self-correcting mechanism operates quickly,
a. direct intervention is less necessary to close a recessionary gap. b. fiscal stimulus is far more useful in closing a recessionary gap than monetary policy. c. monetary policy is far more useful in closing a recessionary gap than fiscal policy. d. fiscal stimulus is ineffective and inflation will occur.
The net worth of a bank is defined as the difference between
a. income and expenses. b. assets and liabilities. c. loans and deposits. d. loans and reserves.