Reserves equal
A) deposits with the Fed plus holdings of U.S. government securities.
B) currency in circulation plus vault cash.
C) deposits with the Fed plus vault cash.
D) currency outstanding plus currency in circulation.
C
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When a nation's real per capita Gross Domestic Product (GDP) increases, which of the following is TRUE?
A) Every individual in that nation shares in the economic gain. B) A nation must channel most of the economic gains to its poorest citizens. C) Low income people are guaranteed to lose; they never share in their nation's economic gains. D) We don't know who has most benefited from economic growth unless we look at the distribution of income.
In contrast to the typical Republican Party laissez-faire policies, President Richard Nixon in 1971 introduced
a. mandatory drug testing of cabinet officers. b. monetary targets for the Federal Reserve Board. c. wage and price controls. d. mandatory gold purchases by the U.S. Treasury.