A commercial bank has required reserves of $60 million and the reserve ratio is 20%. How much are the commercial bank's checkable-deposit liabilities?

Government action can usually perfectly correct the market's shortcomings

a. True b. False Indicate whether the statement is true or false

Until about 1983, almost all of the U.S. national debt stemmed from

a. financing wars. b. bank failures. c. development assistance programs. d. tax cuts.