If your bank faces a 20 percent required reserve ratio and receives a cash deposit of $4,000 into a checkable deposit account, the maximum total amount of money possible after the banking system makes all loans is:
a. $800.
b. $3,200.
c. $4,000.
d. $16,000.
e. $20,000.
e
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________ in economics is a measure of satisfaction or happiness that comes from consuming a good or service
A) Budget B) Utility C) Income effect D) Substitution effect
When the price is $5
A. quantity supplied is greater than quantity demanded and, therefore, price must rise to get to equilibrium.
B. quantity supplied is greater than quantity demanded and, therefore, price must fall to get to equilibrium.
C. quantity demanded is greater than quantity supplied and, therefore, price must rise to get to equilibrium.
D. quantity demanded is greater than quantity supplied and, therefore, price must fall to get to equilibrium.
Mass production is possible only if there is also __________________________.
Fill in the blank(s) with the appropriate word(s).
A good produced in 2009 and held in inventory until it is sold in 2010 would be included in which measure of GDP?
A. Half the value in 2009 and half the value in 2010 B. In 2010 GDP C. In both 2009 and 2010 GDP D. In 2009 GDP