The Federal Funds Committee executes the purchases and sales of government securities decisions of the Federal Reserve.
a. True
b. False
Indicate whether the statement is true or false
Question 2
International comparisons of per capita GDP may not reflect the standard of living because __________.
a. currency exchange rates may not fully account for differences in purchasing power, and thus people in a country with high per capita GDP may have a lower standard of living because of high local prices for food, housing, or other necessities.
b. people in some countries enjoy poverty and do not mind a lack of access to medicine, education, nutritious food, and safe drinking water.
c. markets do not exist in less-developed countries.
d. None of the answers above are correct.
Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
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