The results of studies of the tobacco industry suggests that college and secondary school students who smoke are much more likely to respond to a change in price than adults who smoke

Assume that the reserve requirement is 10 percent. If a bank has total deposits of $80 million, then the required reserves must equal:

a. $80 million. b. $12 million. c. $50 million. d. $8 million. e. $10 million.

The condition for utility maximization states that the marginal utility per dollar spent on any product must equal the marginal utility per dollar spent on other goods

a. True b. False Indicate whether the statement is true or false