Money has to be a precious metal, since precious metals have all of the important characteristics of money
Indicate whether the statement is true or false
F
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If the Federal Reserve sells $20 million worth of government securities and the M1 multiplier is 2.5. Bank reserves will
A) fall by $20 million. B) fall by $50 million. C) fall by $16 million. D) fall by $8 million.
How are intermediate goods treated in the calculation of GDP?
A) Their value is not counted separately, but included as part of the value of the final good for which they are an input. B) Their value is counted separately, and their value is also included as part of the value of the final good for which they are an input. C) Their value is counted separately, but is not included as part of the value of the final good for which they are an input. D) They are included only if they are imported.