A liability to a bank is
A. something that the bank owns.
B. something that the bank owes.
C. something a customer owes the bank.
D. the value of bank buildings and hardware.
Answer: B
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Answer the following statement(s) true (T) or false (F)
1. Distributing goods equally among consumers would be not only fair but efficient. 2. A market price contains no more information about a good than a good social planner would be able to obtain. 3. According to F.A. Hayek, knowledge is lost as statistics are used to convey information. 4. Whether a good is distributed by a social planner or a market system, the area beneath the demand curve out to the quantity available accurately measures the value consumers receive. 5. When allocation decision are not made on the basis of price traditional methods of social gain understate the actual gain to society.
The level of real GDP identified by the long-run aggregate supply curve is
A) the level of GDP at which each industry is experiencing growth in sales. B) the level of GDP at which each business firm is experiencing growth in sales. C) the level of GDP at which no one is below the poverty line. D) the full-employment level of real GDP.
In order for money to be an effective medium of exchange, it is important to have it serve as a unit of account
Indicate whether the statement is true or false
A municipal bond issued by the state of Colorado to construct a new toll highway is a __________ bond
A) revenue B) collateralized C) general obligation D) Treasury