The rate of interest is the price at which money is borrowed and loaned
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following statements is true?
A) Household production is counted in GDP as it amounts to real production. B) GDP growth distributes income equally to people in the economy. C) GDP accounting rules do not adjust for production that pollutes the economy. D) A decrease in the crime rate increases GDP as people will spend more on security.
Which of the following provides evidence that the Federal Reserve System is politically insulated?
A. The Board of Governors is located in Washington, D.C. B. The Fed acts as a clearinghouse between commercial banks. C. The Fed governors are appointed for 14-year terms and cannot be reappointed. D. The Fed governors are appointed by the president of the United States.