Banks can continue to make loans until their
A) actual reserves equal their excess reserves.
B) excess reserves equal their required reserves.
C) actual reserves equal their required reserves.
D) actual reserves equal their checking account balances.
C
Economics
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Mortgages issued to borrowers who fail to document that their incomes are high enough to afford their mortgage payments are known as ________ mortgages
A) reciprocal B) Alt-A C) gray market D) subprime
Economics
Money is almost always used to quote prices. This illustrates the function of money as a
a. medium of exchange. b. store of value. c. unit of account. d. commodity value.
Economics