Excess reserves are the amount by which total reserves exceed required reserves
Indicate whether the statement is true or false
True
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Which of the following describes the "invention" of banking?
A) Clergy in the Renaissance created the banking system to help further the growth of the church. B) Goldsmiths in the sixteenth century issued gold receipts which entitled its owners to reclaim their gold on demand. C) The United States government founded the Federal Reserve in 1913. D) The British Empire created a banking system to fund its exploration of the New World. E) Members of the New York Stock Exchange founded the Bank of America in the 1700s.
In monopolistic competition, each firm supplies a ________ part of the total market output and its actions ________ the actions of the other firms
A) small; do not directly affect B) small; directly affect C) large; do not directly affect D) large; directly affect
We know that the minimum wage causes unemployment. So, why does the government impose a minimum wage?
What will be an ideal response?
In the value added approach to calculating GDP, counting both the intermediate good and the final product would understate the contribution to GDP
Indicate whether the statement is true or false