Prior to 2008, some Eurozone nations were______; others were ______, which resulted in ______.
A) large external debtors; large external creditors; a credit-fueled boom
B) irresponsible; trying to pick up the slack; lackluster overall performance
C) inflation hawks; inflation biased; overall mild inflation
D) worried the ECB was not minding the situation; not worried at all; some nations exiting the Eurozone
Ans: A) large external debtors; large external creditors; a credit-fueled boom
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Deflation is bad because:
A. wages decline. B. prices decline. C. monetary policy becomes impotent. D. fiscal policy becomes impotent. E. deflation is not bad.
If a bank has excess reserves of $10,000 and demand deposit liabilities of $80,000, and if the reserve requirement is 20 percent, then the bank has actual reserves of
A) $16,000. B) $20,000. C) $26,000. D) $36,000.