A budget deficit is the:
A. total amount of money that a government owes.
B. amount of money a government spends beyond the net revenue it brings in.
C. total amount of money that a government spends for discretionary policies.
D. amount of net revenue a government brings in beyond what it spends.
Answer: B
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When inflation is high and unexpected,
A) borrowers of money lose and lenders win. B) borrowers of money win and lenders lose. C) both borrowers and lenders of money win. D) both borrowers and lenders of money lose.
The most important developments that reduced banks' income advantages include
A) the increase in off-balance sheet activities. B) the growth of securitization. C) the elimination of Regulation Q ceilings. D) the competition from money market mutual funds.
Vertical equity states that taxpayers with a greater ability to pay taxes should
a. contribute a decreasing proportion of each increment in income to taxes. b. contribute a larger amount than those with a lesser ability to pay. c. be less subject to administrative burdens of a tax. d. be less subject to tax distortions that lead to deadweight losses.
Which of the followings is not a bank's assets?
A) reserves B) loans C) government bonds D) checkable deposits