Answer the next question on the basis of the following consolidated balance sheet for the commercial banking system. Assume the required reserve ratio is 30 percent. All figures are in billions.AssetsLiabilities & Net WorthReserves$51 Checkable Deposits$140Loans109 Stock Shares130Securities100 Property10?Refer to the above data. The commercial banking system has excess reserves of:
A. $9 billion.
B. $5 billion.
C. $7 billion.
D. $6.1 billion.
Answer: A
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Quantitative evidence from Fishlow, Fogel and Mercer indicates that
a. antebellum railroads were built ahead of demand, but post-bellum transcontinentals were not. b. post-bellum transcontinentals were built ahead of demand, but antebellum railroads were not. c. both antebellum railroads and post-bellum railroads were built ahead of demand. d. antebellum railroads were not built ahead of demand, but the evidence on post-bellum railroads is mixed.
Fantastic Cuts Hair Salon knows that a 15% increase in the price of their haircuts will result in a 5% decrease in the number of haircuts sold. What is the elasticity of demand facing Fantastic Cuts?
a. 0.05 b. 0.10 c. 0.33 d. 3.0
College graduates looking for jobs were less fortunate in 2010 than graduates in 2018.
Answer the following statement true (T) or false (F)
Under a flexible exchange-rate system, an increase in the demand for Japanese yen would cause the U.S. dollar-Japanese yen exchange rate to
A. rise. B. fall. C. remain unchanged, because supply also increases. D. remain unchanged, because the exchange rate is set by the central bank.