The Great Depression, in which real GDP fell and unemployment rose, can be characterized as a ________.
A) inflationary gap
B) long-run equilibrium
C) recessionary gap
D) full-employment equilibrium
Question 2
In the balance sheet for the FBN bank above, the entries are in millions of dollars. If the desired reserve ratio is 10 percent, FBN Bank has desired reserves of
A) 360 million.
B) 120 million.
C) 280 million.
D) 0.
