If Sam Sneed desires a loan from the Marshall National Bank but the bank only has its legally required reserves on hand, then
a. Sam must go to another bank for his loan
b. the Marshall National Bank can borrow directly from a state-chartered bank
c. the Marshall National Bank cannot grant the loan because it is state chartered
d. the Marshall National Bank can reduce its reserves
e. the Marshall National Bank can borrow from its district Federal Reserve Bank
E
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GDP measured using current prices is called ________.
A. real GDP B. deflated GDP C. nominal GDP D. constant GDP
What is the difference between a positive and a negative relationship?
What will be an ideal response?
Other things being equal, you can make $20,000 a year teaching, $25,000 a year typing, $30,000 a year driving a cab, and $40,000 a year as a chef. You have a comparative advantage in
A) teaching. B) driving a cab. C) being a chef. D) one of them but we need more information to know which.
Figure 7-8
Of the graphs in Figure 7-8, which resembles marginal cost?
a.
1
b.
2
c.
3
d.
4