True/False

1. Macroeconomics is the study of broad economic factors such as unemployment, inflation, and consumer activity in an effort to monitor the overall economic performance of a county.

2. Real GDP is the value of all goods and services at current market price.

3. The Consumer Price Index is used to estimate inflation based on a set basket of goods while the Producers Price Index is used to estimate the change in pricing of manufacturing inputs.

4. The Index of Lagging Economic Indicators is used to predict the direction of the economy by looking at various ratios including new manufacturing orders, unemployment claims, and building permits.

5. By selling Treasury Securities, the Federal Reserve is decreasing the amount of cash in the banking system thereby pressuring a rise in interest rates with the goal of slowing the economy due to the higher cost of borrowing capital.

6. Chapter 7 Bankruptcy allows the petitioner to restructure their debt allowing them to continue to make debt payments over time.

7. The Fair Credit Billing Act allows individuals to receive on free credit report annually from each of the three Credit Reporting Agencies.

8. The Truth in Lending Act created the requirement for lenders to report interest rates on an Annual Rates (not monthly, quarterly, semi-annual) AND disclose all related forms of finance charges.

9. The CARD Act of 2009 was instrumental in preventing Credit Card Companies what many consumers viewed as unfair, including low initial teaser rates, allowing and then charging fees for exceeding credit limits, and disclosing payoff period if only minimum monthly payment is made.

10. FINRA is the agency responsible for insuring deposits, managing insolvent banks, and supervising financial institutions.