A bank has excess reserves of $1,000 and demand deposit liabilities of $80,000 when the reserve requirement is 25 percent. If the reserve requirement is lowered to 20 percent, the bank's excess reserves will be

Division of labor refers to

A) dividing tasks up into several subtasks and having one person perform these subtasks in a certain order. B) the separation of hourly workers from salaried workers. C) assigning different workers to different tasks. D) separating union workers from nonunion workers.

In the problem of double marginalization, the resulting price is higher than if

a. The manufacturer were to sell directly to the consumer b. The manufacturer and the retailer were to merge c. All of the above d. None of the above