Answer:
The answer is $200 billion
Explanation:
Legal reserve ratio is the minimum fraction of customers' deposits that the banks are required to keep by law as cash. This minimum ratio is determined by Central banks while money supply is the total amount of money in circulation at a particular time.
Legal reserve is 100% ÷ 20%
= 5
Therefore, the banking system as a whole could increase the money supply by $200 billion($40 billion x 5)
Answer:
Nov 1 Cash $2,300,000 Dr
Notes Payable $2300,000 Cr
Dec 31 Interest Expense $34,500 Dr
Interest Payable $34,500 Cr
Explanation:
The interest is payable at maturity that is at the start of May as the nite is for six months. However, at the end of the period the adjusting entry will be made. On 31 December the 2 months interest is accrued. The expense relates to this period so will be recorded as an expense and as a payable.
The 9% is the annual rate.
the annual Interets is 2300000*0.09 = 207000
So, the 2 month interest will be = 207000 * 2/12 = 34500
Answer:
24 years
Explanation:
In a situation where a country GDP which is fully known as GROSS DOMESTIC PRODUCT was been expected to increase or grow at a rate of 3% per year or per annual which means that it will actually takes up to 24 years for a country economy living standard to double .
Therefore the numbers of years it would take for a country living standards to double will be 23 years.
Answer: D. A very friendly and engaging personality during the interview that just makes the interviewer like the applicant
Explanation:
To be a great sales associate one skill is paramount, interpersonal skills.
The person needs to be able to relate well with others and this is helped by them having a friendly and engaging personality that draws people to them and makes people like the sales person which will make them more trusting of the goods recommended by the sales person.
The person in option D has this and as such has a better chance of being a good sales associate at the retail store.