The largest item on the liability side of the Federal Reserve's balance sheet is
A) commercial bank deposits.
B) U.S. government securities.
C) cash items in the process of collection.
D) Federal Reserve notes outstanding.
D
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The difference between a positive economic statement and a normative statement is that
a. a positive statement must be true; a normative statement is often not true b. a normative statement must be true; a positive statement is often not true c. a positive statement can be verified; a normative statement cannot d. a normative statements can be verified; a positive statement cannot e. a positive economic statement is a moral judgment; a normative economic statement is not a moral judgment
What has been the economic effect of U.S. immigration in the last two decades?
a. Wages for low-skill jobs have declined. b. Wages for low-skill jobs have increased. c. The supply curve for unskilled labor has shifted to the left. d. Demand for skilled and unskilled labor has increased.
In 2013, corporate profits in the U.S. economy were about 14 percent of national income
a. True b. False Indicate whether the statement is true or false
Fiscal policy and monetary policy have a similar ________ time lag.
A. response B. recognition C. implementation D. structural