A commercial bank lists net worth as
A. retained earnings.
B. a liability.
C. excess reserves.
D. an asset.
Answer: B
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Increases in autonomous expenditure induce ________ in aggregate expenditure thereby making the multiplier ________
A) further increases; greater than one B) further increases; unnecessary C) further increases; less than one D) a decrease; less than one E) a decrease; greater than one
If planned aggregate expenditure equals GDP, the economy is in macroeconomic equilibrium
Indicate whether the statement is true or false
After 1980, the following is true
A) money is a leading variable. B) any lead/lag relationship between money and real GDP is difficult to detect. C) money is a lagging variable. D) money is coincident.
The assumption that individuals do NOT intentionally make decisions that would leave them worse off is referred to as
A) the premium assumption. B) the law of comparative advantage. C) the rationality assumption. D) the law of demand.