The table below shows data (in millions) for Sun Trust Banks in September 2007 and September 2008. Suppose that the required reserve ratio is 3 percent.
The data show that Sun Trust ________ make more loans in 2007 and ________ make more loans in 2008.
Definitions:
Opportunity Cost
Opportunity cost represents the value of the best alternative forgone when a decision is made to choose one option over another.
Parking Permit
A document or label allowing a vehicle to be parked in a designated area or facility.
Opportunity Cost
The expense associated with not choosing the second-best option when a decision or choice is made.
College Degree
An academic degree awarded by colleges and universities upon completion of a course of study demonstrating mastery or a high-order overview of a specific field of study or area of professional practice.
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