Suppose a banking system has a required reserve ratio of 0.10. How much can the money supply increase in response to a $500 increase in excess reserves for the whole banking system?

U.S. Gross Domestic Product (GDP) does NOT include which of the following?

A) the value of goods produced in a foreign country by U.S. owned firms B) the purchase of all final goods and services by U.S. households C) U.S. exports to other countries D) business investment in the United States

According to Edward Denison, the United States has experienced

a. diseconomies of scale. b. economies of scale. c. constant returns to scale. d. None of the above