Suppose Warren Buffet withdraws $1 million from his checking account at Chase Bank. If the required reserve ratio is 20 percent, what is the maximum change in deposits in the banking system?

Total planned expenditures for domestically produced goods and services consist of

A) consumer spending, business spending, government spending, and net export spending. B) consumer spending, business spending, government spending, and import spending. C) consumer spending, business spending, and net export spending only D) government spending, business spending, and import spending only.

Which of the following would be recorded in the U.S. goods export account?

A. Harry, an American citizen, spends 1,000 francs on vacation in the south of France. B. A machine shop in Ohio purchases a grinder made in Italy. C. Martha receives a $50 dividend check on stock she owns in a business in Germany. D. France purchases a new jet fighter aircraft from the Boeing Company in the United States.