The report of the 1911 National Monetary Commission
(a) advocated a turn to bimetallism.
(b) advocated unification of the state and national banking systems.
(c) advocated centralized reserve associations which would coordinate
commercial banking processes such as check clearing.
(d) advocated a unified central bank modeled after the Bank of England.
(c)
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The Ceteris paribus assumption is important when building economic models
a. True b. False Indicate whether the statement is true or false
Fine-dining restaurants commonly provide statements in their menus such as, "A 20% gratuity will be added to all checks for parties of six or more patrons"
Given that this statement tends to raise the level of tips or gratuities left by other groups of diners, the statement is a good example of: A) the endowment effect. B) loss aversion. C) anchoring. D) none of the above
Economists believe that
a. people who choose to promote the interests of others cannot be acting rationally in their own self-interest b. people show concern only for those whom they know personally c. charitable donations would disappear if tax deductions for charitable giving were eliminated d. the notion of self-interest rules out concern for others e. concern for the welfare of others is consistent with the concept of self-interest
Bank A has checkable deposits of $510 million and total reserves of $55.2 million. The required reserve ratio is 9 percent. The bank has excess reserves of ______________ million.
A. $9.3 B. $50.2 C. $454.8 D. $45.9