Under a fractional reserve banking system,
A) banks keep a fraction of their reserves on hand as deposits.
B) banks keep all of their reserves on hand as deposits.
C) banks keep a fraction of their deposits on hand as reserves.
D) banks keep all of their deposits on hand as reserves.
C
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If price elasticity of supply is less than 1
A) supply is elastic. B) demand is elastic. C) demand is inelastic. D) supply is inelastic.
The World Bank primarily engages in
A. long-term lending aimed at helping developing nations' governments and businesses make investments that will contribute to economic growth. B. short-term lending aimed at helping developing nations repay debt accumulated in past years. C. short-term lending aimed at helping developing nations repay loans from the International Monetary Fund. D. long-term lending aimed at helping developing nations' governments and central banks keep exchange rates from varying.