What is the leverage implied by the bank balance sheet listed below?
?
Assets
?
?
Liabilities & Net Worth
?
Reserves
$19,000,000
?
Checking Deposits
$20,000,000
Loans Outstanding
$2,000,000
?
?
?
Total
$21,000,000
?
Net Worth
?
?
?
?
Stockholders’ Equity
$1,000,000
?
?
?
Total
$21,000,000

Point D in the above PPF figure is

A) an attainable production combination with unemployed resources. B) a production combination that can be attained once resources are fully employed. C) an unattainable production combination. D) a tradeoff. E) More information is needed to determine which of the above answers is correct.

Which of the following is an accurate statement concerning minimum wage?

a. Minimum wage was originally formed to help immigrant families. b. Between state and federal minimum wage laws, an employee is entitled to the higher one. c. Almost all states have minimum wage laws. d. In 2014, the federal minimum wage was set at $10 an hour.