The lag between the time at which a policy is put in place and the time that policy affects the economy is called

Which of the following describes what the Fed would do to pursue an expansionary monetary policy?

A) use discount policy to raise the discount rate B) use open market operations to sell Treasury bills C) raise the reserve requirement D) use open market operations to buy Treasury bills

Which would be a liability on a balance sheet of a commercial bank?

a. An outstanding commercial loan b. A U.S. Treasury bond c. A certificate of deposit issued by the bank d. Vault cash e. None of the above