Assuming all excess reserves are loaned out, currency holdings by the public are zero, and a reserve ratio of 20 percent, an initial deposit of $850 will lead to total deposits of

When economists talk about a "new normal" in terms of conditions in the production and employment sectors, they are suggesting a change in people's perceptions influenced by the:

A. Hindsight bias B. Confirmation bias C. Availability heuristic D. Framing effect

When producing 8 units of output, average fixed cost is $12.50 and average variable cost is $81.25. Total cost at this output level is

A. $93.75. B. $97.78. C. $750. D. $880.