The required reserve ratio is the percentage of total deposits that the Fed requires a bank to hold in vault cash or on deposit with the Fed

"When it comes to public goods, individuals do not reveal their true preferences because it is not in their self interest to do so." Evaluate this statement

What will be an ideal response?

In the game in which two oil companies own adjacent oil fields, the companies will not use the oil efficiently because

a. neither company has a dominant strategy in the game. b. the companies collude and produce a quantity of oil that is less than the socially-efficient quantity. c. the pool from which they recover the oil is a common resource. d. the pool from which they recover the oil is not large enough to allow both companies to earn a positive profit.