If M = the quantity of money, m the money multiplier, MB the Monetary Base, C = Currency, D = Deposits, R = Reserves, RR = required reserves, and ER = Excess reserves, then RR would equal:
A. MB.
B. M/MB.
C. D - C.
D. R - ER.
Answer: D
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The legislative immigration restrictions following World War I (1914–18) contributed to which of the following in the 1920s?
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Larry was accepted at three different graduate schools, and must choose one. Elite U costs $50,000 per year and did not offer Larry any financial aid. Larry values attending Elite U at $60,000 per year. State College costs $30,000 per year, and offered Larry an annual $10,000 scholarship. Larry values attending State College at $40,000 per year. NoName U costs $20,000 per year, and offered Larry a full $20,000 annual scholarship. Larry values attending NoName at $15,000 per year. Larry maximizes his economic surplus by attending:
A. NoName U because the annual cost is only $20,000. B. NoName U because he has a full scholarship there. C. State College. D. Elite U.
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A) 19 percent. B) 15 percent. C) 11 percent. D) 6 percent.