Answer the following statement(s) true (T) or false (F)
1.Currency in the United States is backed by the gold standard.
2.Banks create money by paying interest on deposits.
3.bank that loans $1,000 to a borrower, who then deposits the money in a bank account, has created $1,000 in new money.
4.Banks use their secondary reserves to make loans.
5.A bank with a money multiplier of 4 receives a deposit of $12,000. From that deposit, it has the potential to create $48,000.
1.FALSE
2.FALSE
3.TRUE
4.FALSE
5.TRUE
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a. export or import. b. a free market economy. c. farm goods or factory goods. d. guns or butter.
Which of the following groups has the highest infant mortality rate?
a. middle-income economies b. low-income economies c. high-income economies d. Western European economies e. all the world's economies