A checkable deposit at a commercial bank is a(n):
A. liability to the depositor.
B. asset to the bank.
C. liability to the bank.
D. asset to the Federal Reserve.
Answer: C
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The nominal money supply fell faster in 1929–32 than did prices
Indicate whether the statement is true or false
If resource A and resource B are substitutes of each other and the price of resource A increases, then:
a. the price elasticity of demand for resource B will increase. b. the demand for resource A will increase. c. the demand for resource B will increase. d. the price elasticity of demand for resource B will decrease. e. the demand for resource B will decrease.
Horizontal equity can be determined by comparing the
A. Marginal tax rate of the taxpayer with the highest nominal income to the marginal tax rates of taxpayers with lower nominal incomes. B. Marginal tax rates for two taxpayers with the same nominal incomes. C. Effective tax rate of the taxpayer with the highest nominal income to the effective tax rates of taxpayers with lower nominal incomes. D. Effective tax rates for two taxpayers with the same nominal incomes.
Changes in inventory are included in the investment component of GDP
a. True b. False Indicate whether the statement is true or false