If a bank's required reserves equal $270,000 . Suppose the bank holds no excess reserves, and the reserve requirement is equal to 18 percent, what is the value of the bank's total deposits?
a. $900,000
b. $1,500,000
c. $48,000
d. $486,000
e. $150,000
b
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A draft system, whether in professional sports or the military, enables the people who are hiring to avoid paying their employees
A) a living wage. B) the true value of their labor. C) what others are willing to pay them. D) what they want to be paid.
Which of the following is a barrier to economic growth in low-income countries?
a. A shortage of labor b. A declining population c. Lack of investment in research and development d. Lack of natural resources e. An increasing amount of savings
Personal income will equal disposable income when:
A. Corporate profits are zero B. Personal taxes are zero C. Transfer payments are zero D. Social Security contributions are zero
Markets
A) rely on voluntary exchanges of goods, services, or resources B) refer to situations where almost all exchanges take place involuntarily. C) are based on extensive price controls imposed by a ruling authority. D) promote quantity determination free from the forces of demand and supply.