Expectations of higher future prices cause firms to lower prices today to sell their product before prices rise.
Answer the following statement true (T) or false (F)
False
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Banks prefer to make loans than keep reserves because they earn interest on loans and must pay interest on reserves
Indicate whether the statement is true or false
According to the textbook, why didn't the U.S. government mount chronic budget deficits before 1970?
A) Elected officials didn't know how to use the federal budget as a policy tool. B) Deficits were viewed as an irresponsible moral failure on the part of government. C) The U.S. had a constitutional balanced budget amendment. D) For all of the above reasons. E) For none of the above reasons.
Average cost equals
A. change in total cost/change in quantity. B. total cost/quantity. C. total cost ? total variable cost. D. total cost ? total fixed cost.
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.