Which of the following statements about checking deposits is true?
A) It is a liability for both households and banks.
B) It is an asset for both households and banks.
C) It is an asset for households but a liability for a bank.
D) It is a liability for households but an asset for a bank.
C
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Your friend Diana tells you that she thinks that her favorite softball team has a 70% chance of winning the next game because that is exactly the winning rate of her team in the last two seasons. This is an example of a(n)
A) objective probability. B) subjective probability. C) risk-averse statement. D) Friedman-Savage preference.
The Jones family is going to Disney World and has set a budget of $2000 for food and souvenirs. If Mr. Jones finds a $50 bill on the ground during their trip and uses it to purchase additional souvenirs, then
a. souvenirs are a normal good b. food is an inferior good c. the budget line has shifted to the left d. the slope of the budget line has changed e. souvenirs are a luxury good