Write the Number in Ordinary Notation $6.96 \times 10 ^ { 4 }$

question 59

Multiple Choice

Write the number in ordinary notation.
- $6.96 \times 10 ^ { 4 }$

• A) 696,000
• B) 69,600
• C) 6960
• D) \(278.4\)

Identify the role of the required reserve ratio in the banking system and its effect on money creation.

Explain the process of money creation by commercial banks through lending.

Distinguish between the concepts of excess reserves and required reserves and their importance in the money supply.

Analyze the effects of holding cash versus depositing in banks on the money supply.

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Definitions:

Negative Reciprocity

An economic term describing exchanges where one party aims to get more than it gives, often used in the context of exploitative or competitive relationships.

Retributive Reciprocity

A principle often found in social relations where actions, good or bad, are returned with actions of a similar kind, akin to the concept of "an eye for an eye."

Reciprocity

The exchange of goods and services, of approximately equal value, between two parties.

Social Obligations

Social obligations refer to the duties or responsibilities imposed by society upon its members, which could involve participating in community service, adhering to societal norms, or fulfilling familial roles.