Any reserves that banks hold in excess of required reserves are called
A) excess reserves.
B) margin reserves.
C) federal reserves.
D) surplus reserves.
Ans: A) excess reserves.
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When local governments ignore all other considerations and award cable TV franchises to the firms that offer the highest money bids, they
A) discriminate against the poor. B) encourage corruption. C) introduce delay into the system but increase its efficiency. D) reduce the likelihood of illegal bribes. E) increase the likelihood the winning firm will be incompetent.
A ____________________ loan is a nontraditional mortgage loan granted to persons who have some factor, such as low credit ratings, which suggest that they could default on the repayment of their debt
A) mortgage-backed security B) collateralized C) subprime mortgage D) risk-based mortgage