If the required reserve ratio is 5 percent, currency in circulation is $400 billion, checkable deposits are $800 billion, and excess reserves total $0.8 billion, then the M1 money multiplier is
A) 2.5.
B) 2.72.
C) 2.3.
D) 0.551.
B
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Use the above table. What percentage of income is received by the poorest 20% of the population?
A) 20 percent B) 13.3 percent C) 11.1 percent D) 7.0 percent
In the ordered pair (3, 6), 3 is the
a. x-coordinate. b. y-coordinate. c. origin. d. slope.
Corn chips and potato chips are substitutes. Good weather that sharply increases the corn harvest would
a. increase consumer surplus in the market for corn chips and decrease producer surplus in the market for potato chips. b. increase consumer surplus in the market for corn chips and increase producer surplus in the market for potato chips. c. decrease consumer surplus in the market for corn chips and increase producer surplus in the market for potato chips. d. decrease consumer surplus in the market for corn chips and decrease producer surplus in the market for potato chips.
One method of measuring the extent of a firm's market power is
A. price elasticity of demand for the firm's product. B. the Lerner index. C. income elasticity of demand for the firm's product. D. both a and b E. all of the above