Which of the following is NOT a source of borrowings for a bank?
A) federal funds
B) Eurodollars
C) transaction deposits
D) discount loans
C
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The fixed-cost fallacy occurs when
a. A firm considers sunk costs in making decisions b. A firm ignores relevant costs c. A firm considers overhead or depreciation costs in making decisions d. Both a and c
The unit of account function of money refers to the
A) fact that money and income are the same thing. B) common denominator of measurement provided by money. C) characteristic that all money is intrinsically valuable. D) all of the above
What is the difference between national income and personal income?
A. Personal taxes. B. National income includes income earned both in the United States and abroad, while personal income only includes that income earned within the borders of the United States. C. National income represents before-tax income, while personal income measures how much is available for spending after all taxes have been subtracted. D. National income represents income earned by American-owned resources, while personal income measures received income, whether earned or unearned.
A U.S. tariff on oil would reduce the domestic quantity of oil supplied.
Answer the following statement true (T) or false (F)