What is typically not considered a characteristic of a central bank?
a. The bank backs its currency with gold or silver.
b. The bank has considerable control over the stock of money and uses this control to moderate fluctuations in credit conditions and prices.
c. The bank regulates other banks.
d. The bank lends a lot of money to the government.
e. The bank serves as a lender of last resort to other banks by lending them money when no one else will.
Question 2
Productivity is defined as:
a. output per unit of capital.
b. output per labor hour.
c. output divided by the price level.
d. the percentage change in total annual output.
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