One difference between a traveler's check and a demand deposit is that:
a. a traveler's check is accepted almost as widely as currency, while a demand deposit has to be converted into cash before making transactions.
b. a demand deposit is accepted almost as widely as currency, while a traveler's check has to be converted into cash before making transactions.
c. a traveler's check has a longer
expiration date than a demand deposit.
d. a demand deposit has a longer expiration date than a traveler's check.
a
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Of the following, pick the year the U.S. enjoyed a budget surplus
A) 1970 B) 1980 C) 1990 D) 2000 E) 2010
According to the concept of rational expectations
a. budget deficits are irrelevant to output in the short-run. b. higher deficits should increase output in the short-run if they are expected. c. lower deficits can be used to stabilize output during expansions. d. none of the above.
A public expenditure that has to be approved each year is called:
A. discretionary spending. B. nondiscretionary spending. C. entitlement spending. D. earmarked spending.
The speculative motive for holding money reflects the behavior of people who hold money
a. instead of near money b. to transact purchases they expect to make c. as insurance against unexpected needs d. to speculate in the stock market e. to take advantage of anticipated or hoped for changes in interest rates