When a loan is amortized, it means the:
A. interest is due entirely at the maturity date.
B. principal in never repaid, only interest.
C. borrower is in default.
D. principal and interest are paid off by the borrower over the life of the loan.
Answer: D
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As the central bank, the Federal Reserve System provides banking services to
A) banks and regulates financial institutions and markets. B) foreign corporations and determines the exchange rate. C) the government and the stock market. D) individuals and controls the quantity of money. E) banks and determines how much the U.S. government will borrow.
According to this Application, because Argentina pegged its currency to the U.S. dollar, the appreciation of the dollar caused a large trade deficit in Argentina. This trade deficit meant that
A) the demand for Argentinean pesos exceeded the supply of the pesos. B) the demand for Argentinean pesos exceeded the supply of U.S. dollars. C) the supply of Argentinean pesos exceeded the demand for the pesos. D) the supply of Argentinean pesos exceeded the demand for U.S. dollars.
If Jennifer withdraws $750 from her savings account and deposits it in her checking account, then M1 will ________ and M2 will ________
A) increase; increase B) increase; decrease C) increase; not change D) not change; decrease
Government expenditures on housing subsidies at all levels total more than $45 billion a year
a. True b. False