Real GDP is another term for
a. current dollar GDP.
b. actual GDP.
c. constant dollar GDP.
d. tangible GDP.
c
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Between September 2007 and March 2008 there was a substantial reduction in the demand for housing. What action did the Fed take in response to the reduction in the demand for housing?
A) The Federal Reserve cut the federal funds rate seven times. B) The Federal Reserve decreased the required reserve rate. C) The Federal Reserve raised the discount rate by 3 percentage points. D) The Fed conducted open market sales of Treasury securities.
"Economics is the study of how people eliminate scarcity." Do you agree or disagree? Why?
What will be an ideal response?
Related to the Economics in Practice on page 154: According to the Economics in Practice feature, productivity of the firms participating in the United States Technical Assistance and Productivity Program
A. grew by 15 percent in the first year and continued to grow for more than a decade afterward. B. doubled during the first two years and then declined for the rest of the decade. C. started off declining for the first decade but then grew during the second decade. D. grew only slightly in the first few years and then stopped growing in the years that followed.
Suppose the following information describes the economy:Consumption3000Government Budget surplus500Government transfers and interest payments750Government tax collections1,750GDP6,000Public saving equals ____and national saving equals ________.
A. 500; 1,500 B. 1,250; 2,250 C. 750; 2,750 D. 500; 2,500