1. Ture or Fase. In the US economy Consumption Expenditure (=C) and Investment Expenditure (=I) as a % of GDP are about the same size.
2. In economics,MONEYrefers to____ a.) Income b.)Assets used and accepted as payments c.)Wealth
3. Which of the following is not a monetary policy of the Federal Reserve? a.)Open Market Operations b.)Quantitative Easing c.)Reserve Requirements d.)Price stability
4. A desire to have relatively even pattern of consumption over time is known as____ a.) The substitution effect b.) The consumption-smoothing motive c.)Forced saving d.)Excess sensitivity
5. Ture or False. Between 1870 and 2007 the US economy grew by 2% on average per year