Which of the following goods and services are omitted from GDP?
A) household production
B) expenditure on resources used to protect the environment
C) services such as hair styling
D) government weather satellites
E) capital goods
A
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Many economists conclude that in-kind income programs have served to reduce levels of inequality significantly from the levels suggested by aggregate income statistics
a. True b. False Indicate whether the statement is true or false
If the FOMC orders a purchase of government securities from member banks, where does the FOMC get the money to pay for the securities?
a. It creates money to pay for the securities by adding the purchase amount to the banks' reserves. b. It pays for the securities with new Federal Reserve notes. c. It borrows the necessary funds from the Treasury. d. It auctions off part of the securities it already owns.