First National Bank (FNB) has a reserve ratio of 20 percent, a required reserve ratio of 10 percent, and deposits of $1,000 . If FNB receives an additional deposit of $100,
a. then it has required reserves of $210 and holds excess reserves of $10.
b. then it has required reserves of $10 and holds excess reserves of $20.
c. then it has required reserves of $110 and holds excess reserves of $190.
d. then it has required reserves of $110 and holds excess reserves of $0.
c
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Macroeconomic always deals with ______ economy.
a. aggregate b. international c. personal d. government
Refer to the data. Which of the following is correct?
Answer the question on the basis of the following demand schedule:
A. Although the slope of the demand curve is constant, price elasticity declines as we move
from high to low price ranges.
B. Although the slope of the demand curve is constant, price elasticity increases as we move
from high to low price ranges.
C. Although the demand curve is convex to the origin, price elasticity of demand is constant
throughout.
D. A steep slope means demand is inelastic; a flat slope means demand is elastic.
In a monopolistically competitive industry,
A. there is only one firm. B. firms are small relative to the total market. C. firms can be either large or small relative to the total market. D. firms are large relative to the total market.
In Figure 32.1, at the supported price-quantity combination where production is limited, the producer surplus is 
A. APfloorB. B. HP*C. C. P*AC. D. HPfloorBG.