The major contribution of goldsmiths to the development of modern banking was
a. local banking.
b. market banking.
c. fractional reserve banking.
d. gold standard banking.
c
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Macroeconomics is concerned with
A) individual business firms. B) specific industries. C) individual consumers. D) a nation's entire economy.
The opportunity cost of postponing income to some future time depends on the interest rate
a. True b. False Indicate whether the statement is true or false
Durable consumer goods include all of the following EXCEPT
A. a laptop. B. a smartphone. C. Alphabet company stock. D. an automobile.
If banks demand currency (e.g., Federal Reserve Notes) from the central bank, the effect is to:
a. Increase the nation's monetary base. b. Decrease the nation's monetary base. c. Leave the monetary base unchanged. d. Increase the liabilities of the central bank. e. None of the above is true.