When the legal reserve requirement is changed,
a. the money multiplier is changed but the amount of excess reserves in the banking system is unchanged
b. the money multiplier is unchanged but the amount of excess reserves in the banking system is changed
c. the size of the money multiplier and the amount of excess reserves change in the opposite direction from the legal reserve requirement
d. the size of the money multiplier and the amount of excess reserves change in the same direction as the legal reserve requirement
e. neither the money multiplier nor the amount of excess reserves change.
C
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The above figure shows the Lorenz curve for wealth for the nation of Rusha
If the government were to confiscate all of the wealth from the poorest twenty percent of the population and give it to the wealthiest twenty percent, the Lorenz curve would A) not change. B) shift farther away from the line of equality. C) shift closer to the line of equality. D) flip above the line of equality.
Which of the following market models results in the highest price assuming a fixed number of firms with identical costs and a given demand curve?
A) Cournot B) Stackelberg C) Monopoly D) Price is the same in all three markets.