The demand curve for British pounds (in terms of U.S. dollars) is ________.
A. downward-sloping because a higher dollar price of pounds means British goods are cheaper to Americans
B. downward-sloping because a lower dollar price of pounds means British goods are more expensive to Americans
C. downward-sloping because a lower dollar price of pounds means British goods are cheaper to Americans
D. upward-sloping because a lower dollar price of pounds means British goods are cheaper to Americans
Answer: C
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A commercial bank is defined as
A) any institution that accepts deposits. B) a firm that is chartered to accept deposits and make loans. C) the institution that sets regulations for commercial activities. D) a firm that obtains funds by selling shares and then buys U.S. Treasury bills. E) any institution that makes loans.
An individual bank can safely lend out a multiple of its excess reserves, but the banking system can safely lend out only an amount equal to the excess reserves in the banking system.
Answer the following statement true (T) or false (F)