When a $10 check written on the First National Bank of Chicago is deposited in an account at Citibank, then
A) the liabilities of the First National Bank increase by $10.
B) the reserves of the First National Bank increase by $ 10.
C) the liabilities of Citibank increase by $10.
D) the assets of Citibank fall by $10.
C
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Compared to a competitive labor market, workers participating in an inclusive union will enjoy
A. higher wages and fewer workers employed. B. lower pay and more workers employed. C. higher wages and more workers employed. D. similar outcomes with respect to pay and employment.
According to the quantity theory, inflation is ultimately controlled by
a. private firms who set prices. b. the monetary authorities who control the money supply. c. those who control output. d. the price of oil.
The Fed acquired the authority to do which of the following during the economic crisis of 2008?
What will be an ideal response?
If the interest rate is 4 percent per year and you borrow $100 for one year, at the end of the year you must pay back
A) $96. B) $100. C) $104. D) $4.