Money is destroyed when:
a. new loans are made
b. the net worth of the banking system declines.
c. loans are repaid to banks.
d. checks written on accounts at one bank are deposited in another bank.
c
Economics
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Over the past few decades, Milton Friedman was the leading spokesman for
A. monetarism. B. the rational expectations theory. C. Keynesianism. D. new classical theory.
Economics
Since demand is more inelastic for products that represent a smaller share of your income, which one of the following is true?
a. the demand for shoe laces is more elastic than the demand for shoes b. The demand for oil changes is more inelastic than the demand for cars c. the demand for ear buds is more elastic than the demand for ipods d. the demand for Salt has a more elastic than the demand than meat
Economics