We do not add up the value of all intermediate goods produced in 2000 and record them as part of 2000 GDP
Indicate whether the statement is true or false
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Reserves of a bank equal its
A) deposits with the Federal Reserve. B) vault cash plus deposits of its customers. C) vault cash plus deposits with the Federal Reserve. D) vault cash.
A person who uses a rule of thumb to determine the best rate of savings:
A. is necessarily making a mistake, since finding the best rate of savings involves complex mathematical models. B. is necessarily making a mistake, since there is no single best rate of savings. C. is not necessarily making a mistake because rules of thumb often arise out of trial and error or from observation of others' successful decisions. D. is not necessarily making a mistake because, in the long run, all rates of savings turn out to yield the same economic benefit.