A cash item in the process of collection is
A) a U.S. Treasury bill that has matured, but for which the bank has not yet received payment.
B) a car loan payment that is due but not yet received by the bank.
C) a check drawn against another bank, from whom the funds have not yet been collected.
D) currency that has been deposited in the bank, but not yet formally counted and entered into the bank's balance sheet.
C
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A critical assumption in the model of demand and supply is the independence of demand and supply curves. If the two are not independent, a shift in the supply curve can lead to a shift in the demand curve referred to as
a. supply-side economics. b. supplier-induced demand. c. supply shocks. d. ceteris paribus. e. the fallacy of supply.
Economists call the difference between what you pay for a good and what you would have been willing to pay for it a(n)
a. budget deficit b. consumer deficit c. consumer marginal benefit d. consumer surplus e. economic benefit