Answer the following statements true (T) or false (F)
1) In the United States, real GDP per capita has increased more rapidly than real GDP.
2) An economy with an average growth rate of 10 percent can expect to see its real GDP double in approximately 7 years.
3) Growth is a widely held economic goal primarily because it creates a more equal distribution of
wealth and income.
4) Real GDP per capita is found by dividing real GDP by the size of the labor force.
5) The rule of 70 is used to find how long it will take an economy to grow by 70 percent.
1) F
2) T
3) F
4) F
5) F
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Under the Fed's current interest-rate-targeting approach to monetary policy, if the demand for federal funds by depository institutions increases today, then, other things being equal
A) the market federal funds rate decreases, and the Fed's Trading Desk responds by selling bonds. B) the market federal funds rate increases, and the Fed's Trading Desk responds by buying bonds. C) the market federal funds rate decreases, and the Fed's Trading Desk responds by buying bonds. D) the market federal funds rate increases, and the Fed's Trading Desk responds by selling bonds.
The effort to collect and manage revenue from taxes is called:
A. an externality. B. deadweight loss. C. administrative burden. D. transfer of surplus.
What is true of stock exchanges in the United States?
a. There are two major stock exchanges in New York, several smaller regional exchanges across the nation, and over-the-counter trading via NASDAQ. b. The New York Stock Exchange is the only stock exchange in the United States. c. There are only two stock exchanges, NYSE and AMEX. d. There are only three stock exchanges, NYSE, AMEX, and NASDAQ.
Someone unemployed for a long period of time due to technological change would be described as structurally unemployed
a. True b. False Indicate whether the statement is true or false