Creative destruction theory is essentially an argument that profit potential within a noncompetitive industry creates an incentive for new types of competing industry, thereby strengthening the original industry's market power

Suppose the required reserve ratio is 5%. If banks are conservative and choose not to loan all of their excess reserves, the actual money multiplier is

A) less than 20. B) greater than 20. C) equal to 20 D) equal to 5.

Contracts can avoid transaction costs

Indicate whether the statement is true or false