Author Question: Open-hearth technology quickly replaced the Bessemer converter in the steel industry. This is an ... (Read 72 times)

colton · **on:** Jun 30, 2018

Open-hearth technology quickly replaced the Bessemer converter in the steel industry. This is an example of Schumpeter's creative destruction process.

Indicate whether the statement is true or false

Question 2

If the Federal Reserve sells 10 million in government securities in the open market, with a 10 percent required reserve ratio on deposits, the maximum increase in deposits would be

a. -50 million.
b. -100 million.
c. 10 million.
d. 100 million.
e. none of the above