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Author Question: The Commerce Bank of Beverly Hills has total deposits of 1,000,000 and total reserves of 220,000. ... (Read 110 times)

londonang

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on: Jun 29, 2018
The Commerce Bank of Beverly Hills has total deposits of 1,000,000 and total reserves of 220,000. The desired reserve ratio is 10 percent. The bank's excess reserves are
 
  A) 22,000.
  B) 120,000.
  C) 100,000.
  D) 80,000.
  E) 1,000,000.

Question 2

If wheat farmers would receive a larger gross income from wheat sales when half the total wheat crop was destroyed, the demand for their wheat is
 
  A) elastic.
  B) inelastic.
  C) larger at higher prices.
  D) smaller at higher prices.
  E) unit elastic.


ynlevi

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


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londonang

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Reply #2 on: Jun 29, 2018
Correct answers!


ynlevi

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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