Refer to Figure 4-1. If the market price is $3.00, what is the consumer surplus on the first ice cream cone?
A) $0.50 B) $1.00 C) $5.50 D) $9.00
A
Economics
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Suppose a bank has $850 million in vault cash and a deposit in the Fed of $100 million. If the bank's required reserves equal $500 million, then the bank has excess reserves of:
a. $100 million. b. $350 million. c. $400 million. d. $450 million. e. $500 million.
Economics
When companies add to their inventories
A. the amount of the change has no effect on the GDP. B. net exports go up. C. the amount of the change gets subtracted from the GDP. D. the amount of the change gets added to the GDP.
Economics