The required reserve ratio is the:
a. actual amount of reserves that banks must hold.
b. excess amount of reserves that a bank must hold.
c. minimum amount of reserves the Fed requires a bank to hold.
d. total amount of reserves that banks hold at all times.
e. maximum amount of reserves that banks can hold to remain liquid.
c
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Necessities such as food and shelter have inelastic demand.
Answer the following statement true (T) or false (F)
What does marginal cost measure?
What will be an ideal response?
Figure 4-4
In Figure 4-4, an increase in population will change demand from
A. D1to D2. B. D2to D1. C. D3to D2. D. D3to D1.
An example of a final good is:
A. chocolate used to make Cocoa Rice Krispies. B. chocolate chips purchased by Nabisco to make Keebler chocolate chip cookies. C. chocolate chips purchased by you to make chocolate chip cookies. D. chocolate chips purchased by a restaurant to make a chocolate chip cookie pie to sell.