The largest category of commercial banks' assets is
A) securities.
B) reserves.
C) currency.
D) checkable deposits.
E) loans.
E
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
Suppose the government wants to reduce the illegal importation of exotic animals used as pets and tries to achieve this goal by interrupting the supply of illegally imported exotic animals
If the demand for these animals is highly elastic, this government effort will result in A) a small reduction in the quantity of exotic pets demanded. B) a large reduction in the quantity of exotic pets demanded. C) no change in the quantity of exotic pets demanded. D) an increase in the quantity of exotic pets demanded.
Employing the data from Figure 2-2, income Y is equal to
A) $3,000,000. B) $3,300,000. C) $3,600,000. D) $5,100,000.
Excess reserves can be found by subtracting required reserves from total reserves
a. True b. False