U.S. military use of steel is nearly half of total U.S. steel production.

If incomes in the United States increase, other things equal, then U.S. _____

a. imports increase and exports remain constant b. exports increase and imports decrease c. imports decrease and exports decrease d. imports remain constant and exports increase e. net exports remains constant

In the money and credit expansion process, the total change in checkable deposits is equal to the initial change in excess reserves _____

a. multiplied by the required reserve ratio b. plus the change in required reserves c. divided by the reciprocal of the required reserve ratio d. multiplied by the reciprocal of the required reserve ratio e. divided by the change in required reserves