Which of the following represents the lending capacity of an entire banking system?
A. Total reserves - required reserves.
B. Required reserve ratio × total deposits.
C. 1 ÷ (required reserve ratio).
D. (Total reserves - required reserves) × money multiplier.
Answer: D
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The idea that there is no voting system that can consistently make a fair choice among three or more candidates is a conclusion of
A) Arrow's impossibility theorem. B) the Condorcet paradox. C) the Voting Rights Act of 1965. D) the median voter theorem.
A firm's price rises. As a result, the
A) supply of labor to the firm decreases, that is, the labor supply curve shifts leftward. B) supply of labor to the firm increases, that is, the labor supply curve shifts rightward. C) demand for labor by the firm increases, that is, the labor demand curve shifts rightward. D) demand for labor by the firm decreases, that is, the labor demand curve shifts leftward.
Why did Communist governments use a command economic system for many years?
a. as a way to avoid the expense and difficulties of a free market b. as a method of keeping consumers from getting what they wanted c. to limit the costs of production of many goods d. in an attempt to create a society in which everyone was equal
Due to federal funding rules, average per pupil expenditures varied across states by no more than $3,000
Indicate whether the statement is true or false