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Suppose that, at an official ticket price of $480, there are 6,000 Justin Timberlake fans wanting to attend his concert, but only 4,000 ticketed seats are available. Which one of the following statements is then true?
Money Supply
The total amount of money—cash, coins, and balances in bank accounts—in circulation within a country's economy at a specific time.
Prime Rate
The interest rate that commercial banks charge their most credit-worthy customers, often used as a reference for setting various interest rates.
Great Recession
A severe global economic downturn that occurred from late 2007 through mid-2009, marked by significant declines in housing prices and increased unemployment rates.
Required Reserve Ratio
The fraction of deposits that regulators require a bank to hold in reserve and not loan out, in order to ensure bank liquidity.
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