If reserves in the banking system increase by $200, then checkable deposits will increase by $500 in the simple model of deposit creation when the required reserve ratio is

On average, countries that have a larger degree of economic freedom tend to have

a. higher per capita income levels, but slower rates of economic growth, than countries with less economic freedom. b. lower per capita income levels, but more rapid rates of economic growth, than countries with less economic freedom. c. both higher per capita income levels and more rapid growth rates than countries with less economic freedom. d. both lower income levels and slower growth rates than countries with less economic freedom.

Which of the following should be held constant when calculating an income elasticity of demand?

a. the price of the good b. prices of related goods c. tastes d. All of the above should be held constant.