When a $1,000 check written on the Chase Bank is deposited in an account at the Bank of America the:
a. Liabilities of Chase rise by $1,000.
b. Reserves of Chase increase by $1,000.
c. Liabilities of the Bank of America fall by $1,000.
d. Reserves of the Bank of America increase by $1,000.
e. All the above.
.D
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A recessionary gap is the amount by which aggregate expenditures ____ the amount required to achieve full-employment equilibrium GDP
a. exceed b. equal c. fall short of d. are greater than
The change in the level of planned spending that results from a change in the price level is indicated by the movement of the economy along a given
a. aggregate expenditure curve. b. aggregate demand curve. c. aggregate supply curve. d. both aggregate expenditure curve and aggregate demand curve.
Positive incentives do not: a. increase benefits
b. result in an increased level of the related activity. c. reduce costs. d. discourage consumption.
The upward-sloping portion of the long-run average total cost curve is caused by:
A. diseconomies of scale. B. the presence of fixed inputs. C. indivisible setup costs. D. the absence of fixed inputs.