The best measure of the standard of living is generally considered to be
A) labor productivity.
B) the average duration of a typical business cycle.
C) the labor force participation rate.
D) real GDP per capita.
D
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Stock prices in Richland declined suddenly after one of the largest banks in Richland faced bankruptcy. If animal spirits play an important role in shaping Richland's economy, which of the following is likely to happen assuming all else equal?
A) Equilibrium unemployment in Richland will fall. B) Equilibrium wage levels in Richland will fall. C) Investment by firms in Richland will increase. D) Richland's consumption expenditure will increase.
Which of the following is included in the narrow definition of the money supply?
a. Cash in bank vaults b. Savings deposits c. Money market mutual fund accounts d. Negotiable certificates of deposit e. Checkable deposits