If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $1000 billion, and excess reserves total $1 billion, then the currency-deposit ratio is

The unemployment rate is an important economic statistic that can tell us about the health of the economy. If the unemployment rate turns out to be high or higher than anticipated, we would expect

A) that jobs are less difficult to find. B) it is more likely that an incumbent president will be re-elected. C) that investors will be more optimistic about the economy. D) that stock prices are more likely to fall.

Over time, nations tend to converge to

A) the same balanced growth path and same income per capita. B) the same balanced growth path but varying income per capita. C) different balanced growth paths but the same income per capita. D) different balanced growth paths because of varying income per capita.