During a period of inflation in the United States, the Federal Reserve sells treasury bonds. Buyers of these bonds write checks to the Fed, and the Fed cashes these checks from banks. Given this information, the banks will most likely:
A. increase the loan amount.
B. increase the discount rate.
C. cut back on the loans they make.
D. cut back on the discount rate.
Answer: C
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Indicate whether the statement is true or false
Which of the following requires a formal journal entry?
A) selection of a new CEO B) stock dividend distribution C) stock split D) date of record
Selection of the right type and proportion of salespeople is important because it is a one-time decision that affects the company's ability to generate sales and profits.
Answer the following statement true (T) or false (F)
Arkansana Inc. imports inventory from Costa Rica. Prepare the journal entries for Arkansana to record the following transactions. Include any year-end adjustments.Dec 21Purchased inventory from Rojas Co. for 5,000,000 Costa Rican colon. The exchange rate was $0.002 per colon. The credit terms were n/30.Dec 31The exchange rate was $0.0023 per colon.Jan 20Paid Rojas Co. for the December 21 purchase. The exchange rate was $0.0021 per colon.
What will be an ideal response?