The Increased Level of Excess Reserves That Many Banks Held

question 52

True/False

The increased level of excess reserves that many banks held in 2008 made traditional monetary policy less effective.

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Definitions:

Indubitable

Not susceptible to being doubted.

Empiricism

The philosophy that insists that all knowledge, except for certain logical truths and principles of mathematics, comes from experience. The term British empiricism is often used to refer specifically to the three philosophers John Locke, George Berkeley, and David Hume. This movement is still very much alive, however, and includes Bertrand Russell and other contemporary philosophers.

Descartes

René Descartes, a French philosopher, mathematician, and scientist, considered the father of modern Western philosophy.

Descartes

René Descartes was a French philosopher, mathematician, and scientist who is considered a pivotal figure in the development of modern philosophy and analytical geometry.