Which of the following is not counted as money?
A. Currency held by the public
B. Federal Reserve notes
C. Loans made by a bank
D. Bank reserves
Answer: D
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When the market is in equilibrium, with no government intervention,
a. Total surplus is minimized b. Total surplus is maximized c. Government maximizes total revenue d. None of the above
Due to a scarcity of resources,
a. governments should decide what should be produced b. the government must decide how to allocate available resources c. some members of each society must live in poverty d. every society must choose among competing uses of available resources e. resource availability exceeds the possible uses for available resources
You deposit $4,000 in currency in your checking account. The bank holds 20 percent of all deposits as reserves. As a direct result of your deposit, your bank will create
What will be an ideal response?
Why must normal profits be counted as a cost, according to economists?
Please provide the best answer for the statement.