Which of the following is not a function of the Federal Reserve System?
a. To control the money supply.
b. To print new money.
c. To supervise and regulate banks.
d. To aid in the check clearing process.
e. To maintain and circulate currency.
b
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When a firm has earnings it has not yet paid out to the owners, those earnings are called
A) surplus capital. B) cash reserves. C) unearned income. D) retained earnings.
An example of a capital good is
A) a fiber optic cable TV system. B) an insurance policy. C) a haircut. D) an iPod. E) a slice of pizza.
When you purchase a bond in the secondary market, you are lending money directly to the borrower
a. True b. False Indicate whether the statement is true or false
Proved reserves are likely to underestimate the total quantity of the resource in the ground because
a. of flaws in information flows between countries. b. government agencies have an incentive to keep reserves secret. c. of future improvements in technology and higher future prices. d. scientists have not been able to use the latest techniques to estimate reserves in less developed countries.