Unlike private placements, publicly-sold securities lack
A) any kind of statement of the financial condition of the borrower.
B) a secondary market.
C) a definite maturity date.
D) restrictive covenants.
D
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Why are U.S. government securities referred to as a bank's secondary reserves?
A) Their current market value may count toward meeting a bank's legal reserve requirements. B) They are very liquid. C) Banks are legally required to hold a certain minimum amount of these securities. D) They are the same thing as vault cash.
Expansionary and contractionary gaps are automatically eliminated by shifts in aggregate demand
a. True b. False Indicate whether the statement is true or false
GDP equals $8 trillion. If consumption equals $5.5 trillion, investment equals $500 billion, and government spending equals $1.5 trillion, then:
a. exports exceed imports by $500 billion. b. imports exceed exports by $500 billion. c. net exports equal zero d. exports exceed imports by $1 trillion.
Cynthia sells walnut cookies in a perfectly competitive market where the market price is $10 per cookie. Cynthia produces 500 cookies per month with a marginal cost of $5 per cookie, an average variable cost of $3 per cookie, and an average total cost of $7 per cookie. Cynthia is likely to: a. increase the production of cookies to maximize profit
b. decrease the production of cookies but stay open. c. continue to maintain current production levels to minimize her losses. d. shut down immediately to minimize her losses.