What occurs in the second stage of economic development?
A. The manufacturing sector declines in importance.
B. Most of the labor force works in agriculture.
C. The service sector shrinks in its relative size.
D. Manufacturing gains in importance and employs a large portion of the labor force.
Answer: D
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A bank has excess reserves of $1,000 and demand deposit liabilities of $80,000 when the reserve requirement is 20 percent. If the reserve requirement is lowered to 10 percent, the bank's excess reserves will be
A) $1,000. B) $8,000. C) $9,000. D) $17,000.
Exhibit 19-4 Balance sheet of Tucker National Bank Assets Liabilities Required reserves$ 4,000 Checkable deposits$20,000 Excess reserves16,000 Loans 0 Total$20,000 Total$20,000 In Exhibit 19-4, the bank could make:
A. $1,000 in new loans. B. $4,000 in new loans. C. $16,000 in new loans. D. $20,000 in new loans.