Answer the following statements true (T) or false (F)
1) Exports are subtracted from imports in calculating U.S. GDP because exports are not available for domestic consumption.
2) The purchase of Walmart stock is a part of gross investment, but not of net investment.
3) The purchase of Walmart stock is a part of gross investment, but not of net investment.
4) Personal income usually exceeds disposable income.
5) Welfare payments to low-income families are included in national income.
1) F
2) F
3) F
4) T
5) F
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If workers and firms have rational expectations, they understand that ________ monetary policy will raise the inflation rate, so actual inflation ________ expected inflation
A) contractionary; will be equal to B) contractionary; will be less than C) expansionary; will be greater than D) expansionary; will be equal to E) expansionary; will be less than
The designate M1 measure of money consists of
A) the most liquid types of money in the U.S. system. B) small time deposits only. C) credit cards and ATM cards. D) gold and gold coins.