Author Question: A bank has 400 in checkable deposits, 800 in savings deposits, 700 in time deposits, 900 in loans to ... (Read 79 times)

ec501234 · **on:** Jun 29, 2018

A bank has 400 in checkable deposits, 800 in savings deposits, 700 in time deposits, 900 in loans to businesses, 300 in outstanding credit card balances, 500 in government securities, 10 in currency in its vault, and 20 in deposits at the Fed

. The bank's deposits that are part of M1 are equal to
A) 1,210. B) 1,900. C) 400. D) 410. E) 530.

Question 2

To increase workers' incomes, the City of New York's government set a wage below which it is illegal for employers to pay employees. This wage is referred to as the

A) union wage.
B) government wage.
C) efficiency wage.
D) minimum wage.
E) city wage.