35. The Great Depression I consituted a prolmession b. lasted for two years in t

Question

35. The Great Depression I consituted a prolmession b. lasted for two years in the 1940s c. was characterized by both high unemployment and high inflation d. caused national output to fall by 10 percent. e was the only period in U.S. history when output decreased 36. Which of the following would be considered a member of the U.S. labor force? A carpenter who hasn't looked for work during the past year b. a. An inmate in a state prison who makes license plates c. A person in a mental institution d. e. A 14-year-old boy who mows lawns for money on the weckends An anthropologist whose search for a job has been unsuccessful 37. Including discouraged workers in the labor market statistics would reduce the labor force and increase the unemployment rate. a. b. c. d. e. increase the labor force and increase the unemployment rate. increase the labor force and reduce the unemployment rate. reduce the labor force and decrease the unemployment rate. affect neither the size of the labor force nor the unemployment rate. 38. The functions of money do not include acting as a. a medium of exchange. b. a standard of deferred payment. c. a unit of account. d. a store of value. e. an exchange of purchasing power When your grandmother keeps her savings hidden under her mattress, she is using money as a. a medium of exchange. b. a unit of account. c. a store of value. d. a standard of deferred payment. e a comfortable cushion for sleeping 39. 40. Which of the following are included in M2 but not included in M1? a. Eurodollar deposits b. Demand deposits c. NOW accounts d. e. Large-denomination time deposits Retail money market mutual funds 41. Commercial banks a. are nonprofit banking institutions. b. are owned by the Federal Reserve. e. are overseen by the Federal Savings and Loan Insurance Corporation. d. control U.S. monetary policy e. are financial intermediaries that offer demand deposits

Explanation / Answer

35. a) constituted a prolonged economic reccession

36. e) an anthropologist who search for job has been unsuccessful

37. b) increase the labor force and increase the unemployment rate

38. e) an exchange of purchasing power

Functions of money: it is a unit of account, it's a store of value, it is a medium of exchange and , it is a standard of deferred payment.

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