Gross domestic product (GDP) is the ________ in a given time period
A) value of personal consumption expenditures, gross private domestic investment, and federal government expenditures
B) sum of wage and salary compensation of employees and corporate profits
C) value of all final and intermediate goods and services produced by the economy excluding those goods exported to foreign nations
D) market value of final goods and services produced by the economy
D
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If the Fed purchases government bonds, it
A) decreases bank reserves and the supply of money. B) decreases bank reserves but increases the supply of money. C) increases bank reserves and the supply of money. D) increases bank reserves but decreases the supply of money.
Refer to the payoff matrix below, which ________ a prisoner's dilemma. If both countries cooperate, Home will choose Policy ________ and Foreign will choose Policy ________
A) is; 1; A B) is; 2; B C) is; 1; B D) is not; 2; B E) is not; 1; A