Between Late 2007 and 2012, the Fed's Balance Sheet

question 33

Multiple Choice

Between late 2007 and 2012, the Fed's balance sheet:

• A)remained about the same
• B)more than doubled
• C)more than tripled
• D)rose tenfold

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Definitions:

Assets

Resources owned by a business, expected to bring future economic benefits.

Liabilities

Debts or financial responsibilities that a business has to other entities, requiring repayment over a period through the exchange of economic resources such as cash, products, or services.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, essentially representing the owner's claim against the company's assets.

Expense

The outflow of resources such as cash and other valuables, incurred in the process of generating revenues.