The essence of an oligopolistic market is that there are only a few sellers

If the required reserve ratio is 10 percent, an increase in bank reserves of $1,000 can support an increase in checking account deposits (including the original deposit) in the banking system as a whole of up to

A) $100. B) $1,000. C) $10,000. D) $100,000.

A bowed outward production possibilities curve occurs when

A) opportunity costs are constant. B) resources are not scarce. C) additional units of output of one good necessitate greater reductions in the other good. D) there are shortages in the goods being produced.