If a bank has reserves of $150 million and demand deposits of $1.2 billion, how much are the bank's (a) required reserves and (b) excess reserves?
What will be an ideal response?
a.)
b.)
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Which of the following statements is true?
A) If the domestic price of a good in a country is lower than the world price, the country will become an exporter of the good. B) Whether a country becomes an importer or an exporter of a good depends only on the domestic price of the good and is independent of the world price of the good. C) If the domestic price of a good in a country is lower than the world price, the country will become an importer of the good. D) Whether a country becomes an importer or an exporter of a good depends only on the world price of the good and is independent of the domestic price of the good.
What makes it extremely difficult for cartels to function effectively without government assistance?
A) Cartel members cannot agree among themselves on the optimum price because all have different costs. B) High prices encourage cartel members to offer discounts, and they attract new entrants to the industry. C) Marginal cost will not equal marginal revenue except at output levels beyond the cartel's capacity. D) Public interest considerations usually require an output greater than the cartel's net revenue maximizing output. E) The hostility of the public to price exploitation makes it difficult for the cartel to defend itself against the consequences of popular hostility.
Labor productivity, real GDP per labor hour, increases if
A) saving and investment cause an increase in the quantity of capital per worker. B) there is an increase in the accumulation of human capital. C) new technologies are continuously discovered. D) All of the above answers are correct.
The supply curve for housing in the very short run is likely to be
A) very elastic. B) very inelastic. C) unit-elastic elastic. D) perfectly elastic.