When Jane Brown writes a $100 check to her nephew and he cashes the check, Ms. Brown's bank ________ assets of $100 and ________ liabilities of $100
A) gains; gains
B) gains; loses
C) loses; gains
D) loses; loses
D
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________ highlights the importance of fiscal policy as a determinant of good macroeconomic performance
A) The real business cycle model B) The traditional Keynesian model C) The new Keynesian model D) Rational expectations
Which of the following actions will decrease the gross domestic product (GDP)? a. Tom's alarm clock breaks, so he buys a new one
b. Tom buys a new alarm clock because he tends to sleep through the first alarm. c. Tom's alarm clock breaks. He now oversleeps and has to buy a cup of coffee on the way to work instead of making it at home. d. Tom gets fired for being late often after his alarm clock breaks. e. Tom sells his broken alarm clock and uses the money to buy some French fries.
We're more likely to make mistakes with situations we face:
A. often, because we pay less attention. B. often, because they involve low payoffs. C. infrequently. D. with little warning.
If the government faced a balanced budget rule, it would be forced to raise taxes or decrease spending during a recession
a. True b. False Indicate whether the statement is true or false