If producer pays entire tax, good is _________________.

In a closed economy firms sell goods and services to:

A) households and foreigners. B) households and the government. C) just the government. D) none of the above.

Suppose you withdraw $500 from your checking account deposit and bury it in a jar in your back yard. If the required reserve ratio is 10 percent, checking account deposits in the banking system as a whole could drop up to a maximum of

A) $0. B) $50. C) $500. D) $5,000.