High-powered money minus reserves equals
A) reserves.
B) currency in circulation.
C) the monetary base.
D) the nonborrowed base.
B
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A modern example of the tragedy of the commons is the forests in many poor countries
Indicate whether the statement is true or false
In the mid-1830s, the U.S. entered an inflationary period that culminated in the depression of 1839-1843 . Contemporary economic historians attribute this economic downturn to
a. the demise of the Second Bank of the U.S. in 1832. b. over-issue of gold coins by the U.S. Mint. c. over-expansion by the manufacturing sector. d. external forces, including large inflows of specie from Mexico and Europe.
One of the costs of shifting from a business form that has unlimited liability to one that has limited liability is the
a. reduction in profit levels b. loss of expansion opportunity c. loss of a white knight d. loss of complete control over all aspects of the business e. unlimited debt potential
Use the above figure. The total profit earned by this monopolistically competitive firm is
A. $1,600. B. $480. C. $1,900. D. $2,560.