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Daniel [21]
3 years ago
5

A banking system with a reserve ratio of 20% and a change in reserves of $1 million can increase its total demand deposits by:A.

$200,000.B. $5 million.C. $1 million.D. $800,000.
Business
1 answer:
blondinia [14]3 years ago
3 0

Answer: option B is correct

Explanation: In simple words demand deposit is similar to those funds held in a checking account. Demand deposits serves as the base of the money supply of the country.

Demand deposit can be computed using following formula :-

=\:\frac{demand\:deposit}{required\:reserve\:ratio}

=\:\frac{1,000,000}{20\%}=\:\$5,000,000

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6 0
3 years ago
Sporting goods charges .85 percent interest per month. what rate of interest are its credit customers actually paying?
seraphim [82]
To answer this item, we assume that the interest rate is simple, such that the yearly rate was only divided by 12 months in order to determine the rate per month. Hence, to answer this item, we simply have to multiply the given percent by 12.

                          rate of interest/year = (12)(0.85%) = 10.2%

Therefore, the answer is 10.2%. 
8 0
3 years ago
Analyze Johnson Stores’ staffing budget for holidaysJohnson Stores is planning its staffing for the upcoming holiday season. Fro
salantis [7]

Answer:

Johnson Stores

Staffing Budget for Holidays:

a. The amount to budget for additional sales clerks for the holiday season is:

= $24,192.

b. The additional profit generated if a staff is added for the increased sale is:

= $1,209.60.

Explanation:

a) Data and Analysis:

Number of sales clerk required for each $12,000 in daily sales = 1

Average sales increase = $96,000

Number of sales clerk required for the $96,000 sales increase = 8 ($96,000/$12,000)

Number of shopping days from Black Friday to Christmas Eve = 27

Sales clerk works a shift per day = 8 hours

Wages per hour = $14

Total hours to be worked by the additional sales clerk = 8 * 27 * 8 = 1,728

Total wages = 1,728 * $14 = $24,192

Average gross profit on sales = 40%

Total gross profit on sales = $24,192 * 40% = $9,676.80

Additional gross profit generated by adding a staff = $1,209.60 ($9,676.80/8)

6 0
3 years ago
Which player in the economy supplies labor in the factor market?
Travka [436]

The player in the economy which supplies labor in the factor market is the households.

<h3>What is supply of labor?</h3>

This refers to the number of labor who are willing and able to find work in an economy. The supply for labor is also the hours worked by a workers within a time period.

Hence, the player in the economy supplies labor in the factor market is the households.

Learn more about supply of labor here: brainly.com/question/17175566

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5 0
2 years ago
The unintentional misstatement or nondisclosure of a material fact made by one party with the hope of influencing the other part
wolverine [178]

The correct answer of the question is Fraud.

The unintentional misstatement or nondisclosure of a material fact made by one party with the hope of influencing the other party amounts to: Fraud.

<h3>What is Fraud?</h3>
  • It is a form of deception or an unlawful gain.
  • It is an intentional form of deception that can have various criminal consequences.
  • There are various kinds of frauds like bank fraud, insurance fraud etc..
  • It is committed with the intention of gaining an unauthorized benefit.
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5 0
1 year ago
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