A bank's reserves are
A) the minimum value of assets it must have.
B) the amount of gold it is required to have as reserves against loans.
C) the value of federal securities it is required to have as reserves against loans
D) deposits that banks have accepted from customers but have not loaned out.
Ans: D) deposits that banks have accepted from customers but have not loaned out.
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If the supply of labor ________, real wages fall and the amount of labor employed ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
When a bank makes a loan to one of its customers, to the bank the loan is classified as
A) an asset. B) a liability. C) neither an asset nor a liability. D) an asset in some cases and a liability in other cases, depending on the type of loan.