Refer to the information. The $40 billion deposit of currency into checking accounts will initially create:
Answer the question on the basis of the following information about a banking system: new
currency deposited in the system = $40 billion; legal reserve ratio = 0.20; excess reserves
prior to the currency deposit = $0.
A. $8 billion of new checkable deposits.
B. $10 billion of new checkable deposits.
C. $40 billion of new checkable deposits.
D. $200 billion of new checkable deposits.
C. $40 billion of new checkable deposits.
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A one-year discount bond has a face value of $1000 and price of $880. What is the yield to maturity on the bond? Report using percentages with two decimal places
What will be an ideal response?
With regard to education of freed slaves after the Civil War (1861–1865),
(a) there was a rapid rise of literacy. (b) Southern public schools were "separate, but equal." (c) most had received no education under slavery and were illiterate. (d) all of the above are true.