A good is considered normal when its income elasticity of demand is ___ and inferior when the its income elasticity of demand is ___

Describe how actual reserves are calculated. Explain the difference between required reserves and excess reserves. How do reserves affect the amount of loans a bank can make?

What will be an ideal response?

When a unit tax is placed on demanders ____

a. it will be paid entirely by demanders if the demand curve is elastic b. it will have the same effect as a similar unit tax placed on suppliers c. they will pay a larger share than if it was initially placed on suppliers d. they will pay a smaller share than if it was initially placed on suppliers