Excess reserves are the amount of money a bank
a. is required to hold against its check able deposits.
b. is required to hold against its check able deposits and savings accounts.
c. has in excess of its required reserves.
d. usually holds to be ready to meet unexpected withdrawals.
c. has in excess of its required reserves.
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In consumer equilibrium: a. the average utility from each dollar spent is the same
b. total utility cannot be increased by reallocating spending among the goods consumed. c. total utility obtained from the consumption of each product is at a maximum. d. the marginal utility from the last unit of each good consumed is the same.
Economies of scale, control over a scarce input, and patents are all examples of barriers to entry
a. True b. False Indicate whether the statement is true or false
Trade based on comparative advantage benefits:
A. producers in all countries but not consumers. B. consumers in all countries. C. neither producers nor consumers. D. consumers in some countries but hurts consumers in other countries.
For most families, a majority of their property comes from
A. inheritance. B. transfer payments. C. redistribution programs. D. savings.