If the required reserve ratio was 25 percent, a bank that received currency deposits of $16,000:
a. could now issue $64,000 of new loans.
b. could now issue $16,000 of new loans.
c. could now issue $12,000 of new loans.
d. could now issue $4,000 of new loans.
c
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A group of firms that has entered into a collusive agreement to restrict output and increase prices and profits is called
A) a compliance. B) a cartel. C) an oligopoly. D) a duopoly.
Suppose Bev's Bags makes two kinds of handbags-large and small. Bev rents an industrial space where she keeps the fabric, the industrial sewing machine, her measuring board and cutting shears, extra needles, thread and buttons, and labels. Bev can produce three bags an hour, regardless of the size of bag. Which of the following would be considered a fixed cost of this company?
A. The sewing thread B. The fabric C. The rent Bev pays D. None of these would be considered a fixed cost.
New growth theory holds that technology is __________ and that the more resources that go to develop technology, the __________ technology that is produced
A) exogenous; more and better B) exogenous; less C) endogenous; more and better D) endogenous; less
The above table gives Sue's marginal utility schedules for sub sandwiches and Mountain Dew, the only products Sue consumes. Suppose initially the price of a sub sandwich is $4 each and the price of a Mountain Dew is $2 each. Sue's income is $12
If the price of subs rises to $6 each, Sue will consume A) more Mountain Dews. B) fewer subs. C) fewer Mountain Dews so that she can still afford to buy two subs. D) Both answers A and B are correct.