U.S. real GDP
A) measures the change in the price level over time.
B) precisely measures the improving standard of living in the United States.
C) excludes the value of underground production and leisure time.
D) includes the value of underground production but excludes the value of leisure time.
E) is not as accurate as nominal GDP when measuring standard of living changes over time.
C
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In the above figure, the economy is at point a on the initial supply of loanable funds curve SLF0. What happens if the interest rate rises?
A) There is a movement to a point such as b on supply of loanable funds curve SLF0. B) The supply of loanable funds curve shifts rightward to a curve such as SLF2. C) The supply of loanable funds curve shifts leftward to a curve such as SLF1. D) none of the above
Which of the following does not increase (i.e., shift) the supply curve of real loanable funds?
a. Open market purchases of government securities by the central bank. b. A decrease in the discount rate. c. An increase in the reserve ratio by the central bank. d. A reduction in the preferred asset ratio for currency in circulation (C/D), due to a shift in household preferences. e. All of the above increase the supply.