The lunch you buy in your school cafeteria is classified as
A. a consumer durable.
B. a consumer nondurable.
C. a service.
D. either a consumer nondurable or a service because it fits into both categories.
C. a service.
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In the case of a currency union, what is a nominal anchor?
A) It is the weight of the efficiency loss from changing to a common currency. B) It is an independent value, such as the value of the common currency unit, constraining the ability of a nation to inflate its currency and prices. C) It is a nominal measure of GDP that is not the same as the measure for real GDP. D) It links that nation to other members of the currency union and permits no trade or financial relationships outside the union.
Which of the following are NOT liabilities on the Fed's balance sheet?
A) discount loans B) bank deposits C) deferred availability cash items D) U.S. Treasury deposits