What is the required reserve ratio (RRR)?
(A) The ratio of commercial to personal loans that a bank makes.
(B) The amount of money a bank has to loan out.
(C) The portion of a deposit that a bank must keep on hand.
(D) The deposits that commercial companies make in banks.
Ans: (C) The portion of a deposit that a bank must keep on hand.
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The marginal rate of substitution is equal to the ________
A) marginal cost of each good B) magnitude of the slope of the indifference curve C) inverse of the slope of the budget line D) relative price of the two goods
In the model for desired saving, autonomous is roughly synonymous with ________
A) policy-determined B) endogenous C) intended D) inflation-adjusted E) exogenous
Most of the world's population lives in
A. industrialized nations. B. newly industrializing countries. C. less developed countries. D. None of the choices are correct.
How do the owners of a corporation relate to the business?
A) The owners and the business are not separate legal entities. B) The owners and the business are separate legal entities. C) The assets of the owners are considered the same as the assets of the business. D) None of these describe the legal relationship of the owners to the business.