Since 1929, total government taxes as a percentage of GDP:
a. climbed from 10 percent to over 35 percent.
b. remained close to 30 percent.
c. climbed from 30 percent to about 50 percent.
d. climbed from 15 percent to about 50 percent.
a
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The U.S. Department of Commerce has been developing so-called "green accounting" to: a. include the value of leisure in the gross domestic product (GDP) of the country. b. register the impact of pollution and natural resource depletion
c. value the output of new firms. d. illustrate the difference between nominal GDP and real GDP. e. measure the value of the output produced by inexperienced workers.
If the fractional reserve system did not exist,
a. the banking system could not create money. b. there would be no effect on the ability of the banking system to create money. c. banks would loan out its required reserves. d. banks would be highly susceptible to bank runs. e. the banking system would realize the money multiplier.