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 20 percent, what is the level of the bank's excess reserves? How much money could the excess reserves be used to create in the banking system as a result?

If the minimum wage exceeds the equilibrium wage, then

a. the quantity demanded of labor will exceed the quantity supplied. b. the quantity supplied of labor will exceed the quantity demanded. c. the minimum wage will not be binding. d. there will be no unemployment.

The nominal rate of interest is

A) the rate observed in the market that includes an inflation premium. B) not the rate observed in the market. C) not adjusted for inflation. D) expressed in dollars from the chosen base year.