During the Great Depression, the Federal Reserve Board:
a. prevented many bank failures.
b. failed to act as a lender of last resort.
c. failed to clear checks adequately.
d. began operating as the government's bank.
e. issued too many bank notes.
Question 2
An increase in labor productivity necessarily means an increase in real GDP per capita if:
a. real GDP increases.
b. the employment growth rate is greater than the population growth rate.
c. the employment growth rate is less than the population growth rate.
d. the size of the labor force remains constant.
e. real GDP increases more rapidly than nominal GDP.
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