The consolidated balance sheet of the all banks in Macroland is presented below:  AssetsLiabilitiesCurrency$1,000Deposits$1,000Loans$  900  Based on this balance sheet the banking system of Macroland can be described as a(n) ________ banking system.

A. 100-percent-reserve
B. barter
C. fractional-reserve
D. government-insured


Answer: C

Economics

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Why is the equilibrium in a trust game socially inefficient?

What will be an ideal response?

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A worker pays a tax for Social Security at a constant rate up until a certain level of income is reached. Beyond that income level, no more Social Security tax is paid. The Social Security tax is an example of a

A) progressive tax. B) regressive tax. C) proportional tax. D) sales tax.

Economics

Personal income is:

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Economics