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True or false.  The rise in the standard of living in the US exceeded the rise in GDP.

True or False.  State and local taxes have been rising as a share of income over the last few decades. 

True or False.  The financial mortgage default crisis of 2007 and 2008 occurred because banks were willing to give out more sub prime loans knowing the risk was less due to the securitization of loans occurring at this time.

Mark all that apply.  When comparing GDP among countries

Suppose Bank of America has checkable deposits of $5,000,000 and a reserve requirement of 10%.  How much do they have in excess reserves?

Match the 4 resources to the corresponding example

True or False.  Dollars bills used before 1958 were commodity money.

True or False.  The financial mortgage default crisis of 2007 and 2008 occurred because banks were willing to give out more sub prime loans knowing the risk was less due to the securitization of loans occurring at this time.

The reserve requirement is the

True or False.  With productivity low, average levels of unemployment will tend to be somewhat higher on average.