1. During the 2^ndQuarter of 2019, real US GDP was $19,020 billion; it was $17,300 billion during the 2^ndQuarter of 2020. Did real GDP grow? Calculate the growth rate.

A.The real GDP decreased by 0.9%

B.The real GDP increased by 9%

C.The real GDP decreased by 9%

D.The real GDP decreased by 9.9%

Jimmy paid $200,000 for his house in 2018 and sold it for $230,000 in 2019. What function did the house serve during the time Lance owned it?

A.medium of exchange

B.unit of account

C.store of value

What are the components of M2?

A.M2= Currency+ Demand deposits + Other checkable deposits

B.M2= Demand deposits + Other checkable deposits +Savings deposit + Small denomination time deposits + Retail money funds

C.M2= Currency+ Demand deposits + Other checkable deposits +Savings deposit + Small denomination time deposits + Retail money funds