If the reserve ratio is 6 percent, then $9,000 of additional reserves can create up to

A perfectly competitive firm's marginal revenue

A) may be either greater or less than price, depending on the quantity sold. B) is equal to price. C) is greater than price. D) is less than price because a firm must lower its price to sell more.

Which of the following is a main characteristic of exchanges in the market system?

A) Decisions to trade are based on individuals' self interest. B) Exchanges are highly regulated by the government. C) Sellers hire economists to determine the market clearing price. D) Exchanges are part of the legislative imperative.