A bank deposit in Germany denominated in euros is a Eurocurrency deposit.
Answer the following statement true (T) or false (F)
False
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The income effect of an increase in the price of salmon
A) refers to the effect on a consumer's purchasing power which causes the consumer to buy less salmon, holding all other factors constant. B) is the change in the demand for salmon when income increases. C) refers to the relative price effect—salmon is more expensive compared to other types of fish—which causes the consumer to buy less salmon. D) is the change in the demand for other types of fish, say trout, that results from a decrease in purchasing power.
When banks make new loans, the effect on reserves is the same as
A) holding excess reserves. B) expanding capital. C) purchasing securities. D) acquiring deposits.
The most powerful tool unions have at their disposal when bargaining with management is
A) the Taft-Hartley Act. B) the ability to strike. C) the secondary boycott. D) the power of pure competition.
What was the source of the problems encountered by many financial firms during the late 2000s?
What will be an ideal response?