Refer to Scenario 25-2. As a result of Kristy's deposit, Bank A's reserves immediately increase by
A) $2,000. B) $8,000. C) $10,000. D) $50,000.
C
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A production possibilities curve shows the relationship between:
A) the price of a good and its quantity supplied. B) the maximum production of one good for a given level of production of another good. C) the different combinations of two inputs used to produce a given quantity of output. D) the quantity of output produced and the amount of inputs required for the production of the output.
A shortage will occur whenever
A) price is below the equilibrium price. B) price is above the equilibrium price. C) price is equal to the equilibrium price. D) the supply curve is upward sloping.
One of the reasons why higher prices affect the quantity of real output demanded is
a) at higher prices, business people become richer, so demand rises b) at higher prices, real household wealth is reduced, so the quantity of output demanded falls c) when prices are high, consumers fear that a recession is approaching d) when pricing are rising, the central bank tends to reduce interest rates, thereby reducing demand e) at higher prices, time becomes more valuable, so people buy now instead of later
Winner's curse is likely to happen in which of the following auctions?
A) unexplored oil reserves B) corn stored in a warehouse C) 1,000 ton of iron ore D) U.S. Treasury Bonds