With of the following is true with regard to leverage?
a. The U.S.banking system uses very little leverage to ensure the safety of the banking system.
b. Leverage in the banking system increases its potential for profits, but no losses
c. Losses borne by highly leveraged banks can have a ripple effect throughout the financial system.
d. All of the above are true
c
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The income elasticity of demand refers to:
A. a change in income following a change in quantity demanded. B. the change in income required for quantity demanded to change by 1%. C. the substitution of one good for another as income changes. D. the percentage change in quantity demanded resulting from a 1-percent increase in income.
Involuntary part-time workers are workers who
A) work less than 35 hours but would like to work full time. B) work more than 35 hours but would like to work less than 35 hours. C) work have lost their jobs within the last four weeks and are seeking another job. D) work less than 35 hours by choice. E) have withdrawn from the labor market.