If a bank's reserves are exactly equal to the required amount of reserves, then it has no excess reserves
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to the figure above. What is the equilibrium quantity of labor hired by the firm when the wage rate is $4 per hour?
A) 10 hours B) 20 hours C) 50 hours D) 70 hours
When bank deposits increase from $1 million to $2 million, banks' required reserves increase from $100,000 to $200,000. The required reserve ratio is ________
A) 10.0 B) 0.10 C) 1.00 D) 0.25
From 1980 to 2012, the black-white wage ratio for males in the United States
A. increased substantially from under 0.5 in 1980 to almost 1.0 in 2012. B. increased modestly from 0.7 in 1980 to about 0.8 in 2012. C. held constant at about 0.7. D. fell steadily from about 1.0 in 1980 to 0.5 in 2012. E. increased substantially from 0.4 in 1980 to over 0.8 in 2012.
Which of the following statements regarding the relative increase in supply of high-skill labor in the United States since 1960 as measured by education level is not true?
A. The supply of highly skilled women to the workforce has increased dramatically since 1960. B. The percent of workers with a college degree has increased dramatically since 1960. C. The percent of workers with an advanced degree has increased dramatically since 1960. D. The percent of workers without a high school degree has fallen dramatically since 1960. E. All of the above statements are true.