Which of the following is a bank liability?
A) reserves
B) consumer loans
C) nontransaction deposits
D) securities
C
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Agricultural explanations of the business cycle are not as important today as they were 50 to 75 years ago because today
a. agricultural production is more mechanized. b. agricultural production is a smaller portion of the total economy. c. agricultural production is greater. d. we eat less.
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
What are three ways that lenders increase the rate of interest paid relative to what it appears to be?
What will be an ideal response?
Suppose you and your roommate have the following agreement when it comes to cleaning your apartment: each person washes her or his own dishes after each meal. The principle of trade you just learned tells you that it would be more efficient if:
a) both of you wash your own dishes after each meal. b) neither of you wash the dishes after eating. c) each of you wash half of all the dirty dishes. d) one of you wash all the dishes while the other does a different chore.