Refer to Figure 7.1. The benevolent social planner would want the outcome represented in the ________ box

Ordinarily the Fed lends money only to banks, but during the Great Recession of 2007-2009 the Fed extended its lender-of-last-resort role to other financial institutions. These institutions included

A) securities dealers. B) investment banks. C) high-quality corporations. D) all of the above

When calculating GDP, underground economic activity is

A) the production of goods and services in the home. B) that portion of the time when we are enjoying leisure activities and not producing marketable goods. C) the part of the economy purposely hidden. D) an aspect of the quality of life, such as health and life expectancy.