Which of the following is not a function of the Fed?
A) to provide check-clearing services
B) to hold depository institutions' reserves
C) to serve as the government's banker
D) to serve as the borrower of last resort
E) none of the above
D
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To obtain the net national product (NNP), start with the gross national product (GNP) and subtract:
A. depreciation. B. depreciation and indirect business taxes. C. depreciation, indirect business taxes, and corporate profits. D. depreciation, indirect business taxes, corporate profits, and social insurance contributions.
Which of the following is an example of a bilateral aid?
a. A U.S. commercial bank loan to a Mexican investor b. The establishment of a Brazilian subsidiary by a German firm c. U.S. humanitarian aid to Somalia d. A trade credit extended to Morocco for the purchase of Iranian oil e. A World Bank loan to Kenya