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A balance sheet for the central bank of Pecunia is shown below:
Central Bank Balance Sheet
AssetsLiabilities
Foreign assets $1,000Deposits held by private banks $500
Domestic assets $1,500Currency in circulation$2,000
Please write the new balance sheet if the bank purchased $100 in foreign bonds by writing a check on itself.
Network Effects
The phenomenon where a product or service becomes more valuable as more people use it.
Social Site
A website or platform where people can share their personal lives, opinions, or participate in networking activities.
Scarce Factor Of Production
An input required for the production process that is in limited supply, potentially constraining output.
Monopoly
A market framework in which there is only one seller offering a distinctive product to the market.
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