Currently all checking deposits over 55.2 million in a bank are subject to a legal reserve requirement of ____%.
Fill in the blank(s) with the appropriate word(s).
10
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Hold the prices of goods, as well as Amy’s preferences, constant. If Amy’s income increases, then
a. both her indifference curves and budget constraint change. b. her indifference curves change, but her budget constraint does not change. c. her budget constraint changes, but her indifference curves do not change. d. neither her indifference curves nor her budget constraint change.
When a baker exchanges a pie for dollars, this is an example of dollars serving as
A. a unit of account. B. a store of value. C. a medium of exchange. D. barter.
Refer to Figure 4-4. The figure above represents the market for iced tea. Assume that this is a competitive market. If the price of iced tea is $1, what changes in the market would result in an economically efficient output?
A) The price would increase, the demand would increase, and the supply would decrease. B) The quantity supplied would increase, the quantity demanded would decrease, and the equilibrium price would increase. C) The price would increase, the quantity supplied would increase, and the quantity demanded would decrease. D) The price would increase, quantity demanded would increase, and quantity supplied would decrease.
Both intermediate and final goods are counted as part of GDP.
Answer the following statement true (T) or false (F)