Which of the following is a function of the lender of last resort?
a. Keeping the velocity of money at a low level
b. Reducing the supply of money and loans in an economy
c. Providing short-term emergency loans in conditions of financial crisis in an economy
d. Increasing the supply of money and the quantity of loans in an economy
c
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The roots of the European Union are in agreements within the coal and steel industries
Indicate whether the statement is true or false
If currency outstanding equals $500 million, checkable deposits equal $2 billion, reserves equal $200 million, and the required reserve ratio is 0.10, the money multiplier equals
A) 1.14. B) 3.57. C) 4.35. D) 5.
Out of approximately 150 million workers in the U.S. economy, what percentage of the total are paid the minimum wage?
a. Less than 2% b. Approximately 5% c. Approximately 8% d. More than 10%
The hydrologic cycle illustrates the
a. natural process that links all water resources together b. natural movement of water from the ocean to wetlands c. link between point and nonpoint sources d. none of the above