The required-reserve ratio is equal to a commercial bank's
A. required reserves divided by its checkable-deposit liabilities.
B. excess reserves divided by its required reserves.
C. checkable-deposit liabilities multiplied by its excess reserves.
D. checkable-deposit liabilities divided by its required reserves.
Answer: A
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For a given positively sloped supply curve, the price increase to consumers resulting from a specific tax imposed on sellers will be
A) greater the more price elastic demand is. B) greater the less price elastic demand is. C) equal to the entire tax when demand is perfectly elastic. D) equal to half of the tax whenever demand is unit elastic.
Which of the following will NOT cause market supply to increase?
A) an increase in the number of firms supplying the product in the market B) a change in technology which allows a larger level of production at every price C) an increase in the costs of resources used to produce the product D) a decrease in labor costs
The basic idea behind a negative income tax is to
a. help local government agencies deliver more services to the poor. b. increase the in-kind income of the poor. c. help the poor get job skills. d. help the poor without destroying incentives to work.
If Real GDP was $9,542 billion in year 2 and it had been $9,300 billion in year 1, what was the approximate economic growth rate during this time period?
A. 9.7 percent B. 2.4 percent C. 3.5 percent D. 2.6 percent