According to Brym and Lie,ethnic Values and Other Elements of Ethnic

question 12

Multiple Choice

According to Brym and Lie,ethnic values and other elements of ethnic culture have less of an effect on the way people behave than we commonly believe because:

• A)of the insignificance of ethnic identity
• B)of the flexibility of culture
• C)social structural differences typically underlie cultural differences
• D)genetic differences typically underlie cultural differences
• E)none of these choices

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Definitions:

Required Reserve Ratio

The fraction of deposits that banks are mandated to keep as reserves by the central bank to ensure liquidity and stability in the financial system.

Money Multiplier

The multiple by which the money supply changes as a result of a change in fresh reserves in the banking system.

Money-Creation Process

The procedure through which the banking system generates money by issuing loans greater than the amount of reserves it holds.

M1

The measure of a country's money supply that includes physical currency and coin, demand deposits, traveler's checks, and other checkable deposits.