Excess reserves are put to use by a bank when it
A. puts cash in the vault to back existing loans.
B. pays off the mortgage on its building.
C. sells government securities.
D. makes loans to its customers.
Answer: D
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________ are the largest components of state and local government revenue
A) Individual income taxes and corporate income taxes B) Transfers from federal government and sales taxes C) Individual income taxes and sales taxes D) Transfers from federal government and corporate income taxes E) Corporate income taxes and lottery income
In 2003, the Social Security tax was around _____ of total federal taxes
a. 17 percent b. 26 percent c. 31 percent d. 39 percent
The sum of the unemployment rate and the inflation rate is known as:
a. the macroeconomic index. b. the mortality rate. c. the market index. d. the misery index. e. a coincident indicator.
Is increased production of a good beneficial to society?
a. Yes, because scarcity is such an overriding concern. b. Yes, because more is always better. c. Maybe, it depends on what is foregone. d. No, because increased production does not increase utility.