The sum of the coins and currencies in the bank's vault and its deposit in the Fed is called:
a. vault cash.
b. transaction deposits.
c. legal reserves.
d. required reserves.
e. loanable funds.
Question 2
Whenever a price ceiling is imposed in a market,
a. quantity demanded exceeds quantity supplied and a surplus results.
b. quantity demanded exceeds quantity supplied and a shortage results.
c. quantity supplied exceeds quantity demanded and a surplus results.
d. it is necessary to know whether the ceiling is imposed above or below the equilibrium price in order to determine whether the quantity traded will be affected.
Bank
In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it.
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