Answer the question based on the following consolidated balance sheet for the commercial banking system. Assume the required reserve ratio is 12 percent. All figures are in billions of dollars:





Refer to the above data. If commercial bankers decide to hold additional excess reserves equal to 7 percent of any newly acquired deposits, then the relevant monetary multiplier for this banking system will be:



A. 8.33



B. 6.66



C. 5.26



D. 4.76


C. 5.26

Economics

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Suppose the figure below shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist.  At this monopolist's profit-maximizing level of output, its total revenue equals the area:

A. 0FLE. B. ELJB. C. 0HNC. D. 0FJB.

Economics

f Bob earns $20,000 per year and Sue earns $100,000 a year, and there is a flat tax of 10 percent imposed, then Bob would pay __________, Sue would pay ___________, and this is a __________ tax.

A. $2,000; $10,000; proportional B. $2,000; $10,000; progressive C. $2,000; $10,000; lump-sum tax D. $200; $1,000; flat tax

Economics

The difference between craft unions and industrial unions is that industrial unions usually

A. Are organized along democratic lines, while craft unions are undemocratic. B. Flourish in industries, while craft unions dominate in smaller craft production. C. Include workers in an industry, while craft unions represent workers with a particular skill. D. Include workers with a particular skill, while craft unions represent workers in an industry.

Economics

Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 

A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C

Economics