If the Westminster National Bank has total deposits of $200 billion, has $50 billion in reserves with the Federal Reserve System, and at the same time is required to allocate 20% of its total deposits as required reserves, what are its excess reserves?
A. $50 billion
B. $150 billion
C. $10 billion
D. $90 billion
C. $10 billion
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Refer to the figure below. 
In the figure, which interval represents a business cycle recession?
A. A to B B. A to C C. B to C D. B to D
Suppose a competitive firm is paying a wage of $12 an hour and sells its product at $3 per unit. Assume that labor is the only input. If the last worker hired increases output by three units per hour, then to maximize profits the firm should
A) hire additional workers. B) not change the number of workers it currently hires. C) lay off some of its workers. D) There is not enough information to answer the question.
Profits for a monopolist can be illustrated with a graph showing:
a. marginal revenue and marginal profits. b. total revenue and marginal costs. c. marginal revenue and total profits. d. total revenues and total costs.
In which market should you begin your analysis if immigration of low-skilled workers increases?
a. Real loanable funds market, with a shift in the supply of real loanable funds b. Real loanable funds market, with a shift in the demand for real loanable funds c. Foreign exchange market, with a shift in the supply of domestic currency d. Foreign exchange market, with a shift in the demand for domestic currency e. Real goods market with, a shift in aggregate supply