Refer to the data. If this bank has excess reserves of $6 million, the legal reserve ratio must be:
Answer the question on the basis of the following balance sheet for the First National Bank of Bunco. All figures are in millions.
A. 10 percent.
B. 12 percent.
C. 14 percent.
D. 20 percent.
C. 14 percent.
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If inflation expectations change as a result of an expansionary fiscal policy, this causes
A. the long-run Phillips curve to shift. B. the short-run Phillips curve to remain constant. C. the short-run Phillips curve to shift. D. a movement along the short-run Phillips curve.
In the economic way of thinking, speculation can only occur
A) in a capitalist economy. B) in a society where time-travel is possible. C) under uncertainty. D) under perfect information. E) in an underground or illegal market system.
To reduce labor surplus above the equilibrium union wage level, a union may do all of the following EXCEPT
A) lengthen apprenticeship period. B) assign jobs based on seniority. C) limit the number of new members accepted. D) encourage nonunion members to join the union.