Decisions by ________ about their holdings of currency and by ________ about their holdings of excess reserves affect the money supply
A) borrowers; depositors
B) banks; depositors
C) depositors; borrowers
D) depositors; banks
D
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In the figure above, the producer surplus is
A) $60,000. B) $100,000. C) $40,000. D) $80,000. E) $50,000.
Which of the following institutions is NOT a depository institution?
A) the U.S. Treasury B) a commercial bank C) a money market mutual fund D) a thrift institution, such as a savings and loan association
The following are all determinants of income differences examined in the text EXCEPT
A) age. B) marginal productivity. C) inheritance. D) height.
When the reservation wage is adjusted to account for a higher inflation rate:
a. the aggregate demand curve shifts to the right. b. the price level falls. c. the short-run Phillips curve shifts outward. d. production costs of businesses decline. e. the aggregate supply curve shifts to the right.