Which of the following financial institutions does NOT have to meet minimum reserve ratios?
i. the Fed
ii. commercial banks
iii. credit unions
A) i only
B) ii only
C) iii only
D) ii and iii
E) i, ii, and iii
A
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A budget surplus means that
A. government expenditures are greater than revenues in a given year. B. government revenues are greater than expenditures in a given year. C. a nation's imports are greater than its exports. D. a nation's exports are greater than its imports.
The present value of a promise to pay $100 one year from now would be greater if the interest rate were higher
a. True b. False
Being penalized via taxes for making more money in dollars even though your purchasing power hasn't changed at all is called:
A. tax distortion. B. shoe-leather costs. C. menu costs. D. the velocity of inflation.
The forward exchange market:
a. Is a market with no default risk. b. Is the market for current deliveries but future payments. c. Handles transactions for individuals or companies who would like to reduce foreign exchange risk by locking in exchange rates now. d. Is the market for current delivery.