A bank has $100,000 in checkable deposits and $30,000 in reserves. If the required reserve ratio is 10%, what is the amount of excess reserves?
A) $0
B) $10,000
C) $20,000
D) $30,000
Ans: C) $20,000
Economics
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A surplus occurs when price is higher than the market equilibrium.
Answer the following statement true (T) or false (F)
Economics
Suppose the overall MPC is 0.75 and the marginal propensity to import is 0.25. A $4 billion increase in U.S. exports will lead to a ________ increase in GDP
A) $6 billion B) $8 billion C) $12 billion D) $16 billion
Economics
Which of the following Latin American countries had the strongest growth rate between 1960 and 2011?
A) Argentina B) Chile C) Peru D) Venezuela
Economics
Almost every U.S. household receives some form of income transfer payments.
Answer the following statement true (T) or false (F)
Economics