The minimum amount of reserves a bank is required to hold is
A. Legal reserves.
B. Total reserves.
C. Required reserves.
D. Excess reserves.
Answer: C
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The ability of an individual, firm, or country to produce a certain good at a lower opportunity cost than other producers is referred to as:
A) marginal advantage. B) absolute advantage. C) cardinal advantage. D) comparative advantage.
Improvements in transportation during the first half of the 19th century
a. enhanced labor mobility and made both product and labor markets more competitive. b. helped local political entities create monopolies, making both product and labor markets less competitive. c. were only profitably implemented in the Northern states, causing product shortages in the Southern states. d. None of the above are correct.
Which of the following is the largest source of revenue for the federal government?
a. corporate income tax b. payroll tax c. personal income tax d. user charges
Which of the following is a weakness of most government agencies?
a. A lack of market pressure to improve service b. An organizational structure that is too flexible c. An inconsistent source of funding d. An unclear mission and vision