The major assets and liabilities of a bank are:
a. checkable deposits and total reserves, respectively.
b. checkable deposits and gold, respectively.
c. total reserves and checkable deposits, respectively.
d. total reserves and excess reserves, respectively.
e. checkable deposits and excess reserves, respectively.
c
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The Keynesian model differs from the classical model in that
a. people do not have perfect information about the future in the Keynesian model. b. real wages are not flexible in the Keynesian model. c. monetary policy affects aggregate demand in the Keynesian model. d. expectations are crucial in the classical model. e. all of the above.
Faster economic growth in the United States may lead to the serious macroeconomic problem of higher
A. levels of unemployment. B. federal budget deficits. C. levels of inflation. D. levels of poverty.
When quantity supplied is greater than quantity demanded, market price is _______ the equilibrium price.
Fill in the blank(s) with the appropriate word(s).
Foreign currency assets held by a government for the purpose of purchasing domestic currency in the foreign exchange market are called:
A. fixed-exchange-rate deposits. B. balance-of-payment currency. C. purchasing-power-parity funds. D. international reserves.