For (a), (b) and (c), assume that the reserve requirement is 12%, and banks keep no excess reserves, and the public holds no cash: A. If the Fed buys $100 worth of bonds from Joe using a check. Joe deposits the check into Bank of America, what will the T-accounts of the Fed, Joe, and Bank of America look like?
B. After what happened in (a), how much excess reserve does Bank of America have? If Bank of America gets rid of all the excess reserves by buying securities from Amy using a check, and Amy deposits the check into Chase, what will the T-accounts of Bank of America, Amy and Chase look like?
C. Suppose the process described in (b) goes on and on in the banking system, will money supply in the economy increase or decrease? If so, by how much?
D. Now suppose that we restart the scenario from (a) to (c) , but now banks start to keep positive amount of excess reserves, will the total money supply

Which of the following best explains how the invention of money affected the barter system? a. the invention of money supplemented the barter system by providing a nonperishable medium of exchange b. the invention of money completely replaced the barter system with a free-market system c. the invention of money had no effect on the barter system d. the invention of money drastically reduced the value of goods used in the barter system 2b2t

Suppose that jim plans to borrow money for an education at texas a& m university. jim will need to borrow $25,000 at the end of each year for the next five years (total=$125,000). jim wishes his parents could pay for his education but they can’t. at least, he qualifies for government loans with a reduced interest rate while he is in school. he has a special arrangement with aggiebank to lend him the money at a subsidized rate of 1% over five years without having to make a payment until the end of the fifth year. however, at the end of the fifth year, jim agrees to pay off the loan by borrowing from longhorn bank. longhorn bank will lend him the money he needs at an annual interest rate of 6%. jim agrees to pay back the longhorn bank with 20 annual payments and the payments will be uniform (equal annual payments including principal and interest). (i) calculate how much money jim has to borrow at the end of 5 years to pay off the loan with aggiebank. a. $121,336 b. $127,525 c. $125,000 d. $102,020 e. none of the above

Rosie and her brother michael decided recently to purchase an rv together. they both want to use the rv to take their families camping. the price of the rv was $10,000. since michael expects to use the rv 60% of the time and rosie 40% of the time, michael contributed $6,000 and rosie contributed $4,000. their ownership percentage equals their contribution percentage. which type of property titling should they use to reflect their ownership interest?