The commercial banks on Sunny Island have checking deposits of 4 million, reserves of 600,000, and loans of 2.4 million. The desired reserve ratio is 10 percent. The banks have ________ of desired reserves and ________ of excess reserves.
A) 600,000; 0
B) 400,000; 200,000
C) 400,000; 600,000
D) 600,000; 200,000
Question 2
The above figure shows the apartment market in Big City. A rent ceiling of 1100 would
A) not create a black market.
B) create a shortage of apartments.
C) decrease search activity.
D) shift the supply curve rightward.
Feral Chincoteague ponies on Assateague Island, Virginia
World oil reserves
Island of Galesnjak
Location of the island of Tristan da Cuhna, first discovered by a Portuguese admiral in 1506.