Suppose a bank has $100,000 in checking account deposits with no excess reserves and the required reserve ratio is 5 percent. If the Federal Reserve lowers the required reserve ratio to 3 percent, then the bank will now have excess reserves of

According to neoclassical growth theory, the higher real GDP per person from economic growth will

A) not last because the population will increase. B) last because there is no link between growth and population. C) last indefinitely regardless of any other factor. D) last as long as technological change continues.

Based on the data in the above table, then if opportunity costs are constant, the opportunity cost of producing movies in the United States is ________, and the opportunity cost of producing movies in Switzerland is ________

A) 2 movies; 2 cuckoo clocks B) 2.5 movies; 0.4 cuckoo clocks C) 0.4 cuckoo clocks; 0.5 cuckoo clocks D) 2.5 cuckoo clocks; 2 cuckoo clocks