The Federal Reserve is ________ the U.S. Treasury
A) under the control of B) independent of
C) a part of D) a creation of
B
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Writing total output as Q, change in output as ?Q, total labor employment as L, and change in labor employment as ?L, the marginal product of labor can be written algebraically as
A) ?Q ? L. B) Q / L. C) ?L / ?Q. D) ?Q / ?L.
Which of the following financial institutions reported the largest bankruptcy in U.S. history in September 2008?
a. Morgan Stanley b. Goldman Sachs c. Lehman Brothers d. JP Morgan Chase e. Barclays Capital
An appreciation of the British pound relative to the euro will cause England's:
a. Aggregate supply and aggregate demand to rise, which causes prices to rise and real GDP to fall. b. Aggregate supply to rise and aggregate demand to fall, which causes prices to rise and real GDP to fall. c. Aggregate supply to rise and aggregate demand to fall, which causes prices to fall and real GDP to change by an uncertain amount. d. Aggregate supply and aggregate demand to fall, which causes prices to rise and real GDP to fall.
Exhibit 11-7 GDP data (billions of dollars) Personal consumption expenditures$5,207 Interest425 Corporate profits735 Government spending1,406 Depreciation830 Rental income146 Gross private domestic investment1,116 Compensation of employees4,426 Exports870 Imports965 Indirect business taxes553 Proprietors' income520 Personal taxes886 Social Security taxes432 Transfer payments376 In Exhibit 11-7, and using the expenditures approach, gross domestic product (GDP) is:
A. $6,807 billion. B. $7,082 billion. C. $7,634 billion. D. $7,637 billion.