The richest American is ______.

A recessionary gap is the amount that autonomous aggregate expenditures must rise to cause the equilibrium level of real GDP to shift to the full-employment level of real GDP

a. True b. False Indicate whether the statement is true or false

Many economists believe that savings accounts should be added to M1 because they

a. are larger in size than conventional checking accounts. b. pay larger interest than checking accounts. c. can be transferred quickly into checkable accounts. d. are also insured by the federal government.