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Author Question: Demand tends to be more elastic, the greater the number of good substitutes, the greater the ... (Read 52 times)

fagboi

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on: Jun 30, 2018
Demand tends to be more elastic, the greater the number of good substitutes, the greater the fraction of one's income devoted to a product and the greater the time allowed to respond to a price change.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Assume that the reserve requirement is 20 percent. First National Bank has vault cash and deposits with the Fed of 80 million, loans and securities of 320 million, and demand deposits of 400 million. First National:
 a. could extend a maximum of 40 million of additional loans.
  b. could extend a maximum of 20 million of additional loans.
  c. could extend a maximum of 10 million of additional loans.
  d. is not in a position to extend additional loans.


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millet

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Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

d


fagboi

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

cam1229

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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