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The initial money supply is $10,000. a. If the reserve requirement is 100% and people hold $1000 in currency and $9000 in demand deposits, what is the money supply? b. If the reserve requirement is 20% and people hold all money as demand deposits, what is the money supply? c. Suppose the reserve requirement is 10%, but banks hold 20% in reserves. If people hold all money as demand deposits, what is the money supply? What would the money supply be if banks held only the required amount?
The substitution effect of a higher real interest rate on current consumption refers to a/an {INCREASE, DECREASE} in current consumption that takes place as a result of current consumption becoming more expensive than future consumption.
Assume 200 videotapes are rented when the price is $4. If the price drops by $.80, the number of videotapes rented increases to 220. Which of the following statements about the non-arc price elasticity of demand is true.
Four years ago, Warrior Auto Service purchased some new equipment at a cost of $75,000. The equipment has since been depreciated annually using the SOYD method, assuming a life of seven years and a salvage value of $5,000. Due to competitive pressure..
You have just started a new job and one of the fringe benefits is a company contribution of $5,000 every year into a retirement savings account. Assuming the contribution amounts remain unchanged and that the account earns an average of 8% per year, ..
Imagine that there are 1,000 consumers. For each consumer, the willingness to pay for a widget is distributed uniformly over the interval [0,1] depending on the style of the widget. A retailer with a particular study of the good knows this distributi..
What are your thoughts about the role of international institutions ( WTO, IMF and World Bank) on providing order and reducing uncertainty in the global economy?
Sometimes wages are set above the equilibrium level when
Suppose consumer 1 has the demand function given by D1(p) = 15−p and consumer 2 has the demand function given by D2(p) = (20 − p)/3. At what price the total quantity demanded by the two consumers is 7?
An individual donates artwork to San Francisco General Hospital. This was the only charitable contribution the taxpayer makes during the year. The artwork was purchased several years ago for $50,000; it is worth $140,000 at the time of the donation. ..
What does it mean when asked; what are some considerations to remember given the different roles and people in the audience.
A competitive firm has a short-run total cost curve STC (q)= 0.1q^2 +10q +40. Find and plot the SAC and SAVC curves. For this function, the SMC curve is given by SMC (q)= 0.2q +10.Include this curve in your diagram for part b. Write the equation for..
“But in real-life America, and especially in the America of railroad men and new industrialists, laissez-faire was a dangerous idea” Explain. The giant modern corporation did more than transform business into finance. It displaced classical ideas abo..
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