Who from among the following would be classified as out of the labor force?
A. Jack Little, a 21 year old new college graduate actively looking for his first job
B. Amanda Pie, a full-time homemaker
C. Brenda Smith, an 18 year old college student employed part-time at a fast food restaurant
D. Mario Faubert, a NHL hockey player at home sick with the flu
Answer: B
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Which of the following is not included when using the expenditure approach to compute GDP?
a. Consumer spending on goods and services b. Net exports c. Government purchases d. Private investment e. Transfer payments
If the Fed lowers the required reserve ratio, __________ in the banking system will remain unchanged but __________ will rise. This will (likely) lead to an increase in new loans and checkable deposits and a(n) __________ in the money supply
A) excess reserves; vault cash; increase B) reserves; vault cash; decrease C) reserves; excess reserves; increase D) reserves; required reserves; increase E) none of the above