Which of the following statements is TRUE?
A) investment = disposable income + consumption B) saving = personal income + consumption
C) saving = personal income - consumption D) saving = disposable income - consumption
D
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A bank's assets consist of $1,000,000 in total reserves, $2,100,000 in loans, and a building worth $1,200,000 . Its liabilities and capital consist of $3,000,000 in demand deposits and $1,300,000 in capital. If the required reserve ratio is 10 percent, what is the level of the bank's excess reserves? How much could it loan out as a result?
a. $700,000; $700,000 b. $700,000; $7,000,000 c. $300,000; $300,000 d. $300,000; $3,000,000
At the beginning of the 20th century, average U.S. income was less than $6,000 . as of 2013, the average income was nearly $53,000
a. True b. False Indicate whether the statement is true or false