The number of compact discs purchased by a consumer depends on the price of the discs as well as the prices of all other goods purchased.

Assume a simplified banking system in which all banks are subject to a uniform reserve requirement of 20 percent and checkable deposits are the only from of money. A bank that received a new checkable deposit of $10,000 would be able to extend new loans up to a maximum of:

a. $2,000 b. $8,000. c. $9,000 d. $10,000.

The U.S. Congress passed legislation in the late 1800 . that established land-grant universities to educate citizens in agriculture, home economics, mechanical arts, and other practical professions. Two important missions for land-grant universities are education and research. Explain how the establishment of land- grant universities has affected the growth of the U.S. economy