Vault cash is equal to $2 million, deposits by depository institutions at the central bank are $1 million, the monetary base is $15 million, and bank deposits are $30 million. Bank reserves are equal to

The town of Harmonia gives away all 500 tickets to its annual Founder's Day Free Concert-in-the-Park to local residents

Each year, more than 500 people wish to attend the concert, so some of the residents who receive the free tickets sell them for as much as $75 each. Is a transaction where someone pays a resident $75 for a "free ticket" economically efficient? A) Yes, it was a voluntary exchange that benefited both parties. B) No, the buyer paid too much for the ticket. C) No, people should never be allowed to sell items they received for free. D) Yes, but it is efficient only from the perspective of the seller and not from the perspective of the buyer.

When wages are viewed as benefits instead of costs of a project, it is an example of the

A. labor game. B. chain-reaction game. C. double-counting game. D. dating game.