For a depository institution, reserves are:
a. assets on the balance sheet.
b. loans to individuals and businesses.
c. borrowings from the central bank.
d. liabilities it owes to customers.
e. checkable deposits.
a
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Arguments against the balanced budget amendment include which of the following?
A) A balanced budget amendment would increase capital formation. B) A balanced budget amendment would exert fiscal discipline on the federal government. C) A balanced budget amendment would limit Congress' ability to use fiscal policy during a recession. D) A balanced budget amendment would reduce the taxation burden on future generations.
Which of the following statements is TRUE regarding the textbook used in this course?
A) The textbook presents only economic theory, so no value judgments are involved in the text. B) The textbook does not include normative statements. C) The microeconomic section of the book includes only positive analysis while the macroeconomic section includes normative analysis. D) The selection of topics included in the book involves value judgments as well as economic theory.