Which of the following is likely to increase measured GDP?
A) Tax rates increase and more people attempt to underreport their income for tax purposes.
B) More people decide to do their own lawn maintenance and give up using a professional service.
C) Marijuana becomes legal to grow and sell.
D) A greater number of women decide to stay at home and provide day care for their children under age 5.
C
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The most powerful person at the Fed is
a. a director of a Federal Reserve bank b. a member of the Board of Governors c. a district bank president d. the president of the U.S. e. the chairman of the Board of Governors
What is the "price" commonly called in the labor market?
If consumption is greater than income, saving must be negative.
a. true b. false
When goldsmiths issued receipts to gold owners, and those gold receipts circulated while gold stayed in the goldsmiths' safes,
A) the gold receipts were considered money because they were used as a means of payment. B) an infant banking system developed in sixteenth century Europe. C) fiat money was created. D) money was invented. E) Both A and B are correct.