The Second National Bank of Townville has $400,000 in checking deposits, $125,000 in savings deposits, $500,000 in loans, $20,000 in its reserve account at the Fed, and $5,000 of currency in its vault
What is the amount of these assets and liabilities that is in M1?
The only deposit that is in M1 is the checking deposits, so the amount that is in M1 is checking deposits of $400,000.
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Which of the following will be included in the services account of a country?
a. Imports of goods from a foreign country b. Gifts to the residents of a foreign country c. Exports of goods to a foreign country d. Purchase of land in a foreign country e. Transportation costs involved in international travel
In the short-run macro model, equilibrium occurs when
a. all of the following conditions are satisfied b. the unintended change in inventories is zero c. total sales equals output d. the aggregate expenditure line intersects the 45-degree line e. GDP equals aggregate expenditure
Billionaires get most or all of their income from
A. wages and salaries. B. property. C. government transfer payments.