In Ugoland, the money supply is $8 million and reserves are $1 million. Assuming that people hold only deposits and no currency, and that banks hold no excess reserves, then the reserve requirement is

Real business cycles could be a result of

A) shocks to the aggregate supply side of the economy. B) abrupt changes in monetary policy. C) increases in the budget deficit and national debt. D) discretionary fiscal policy.

The market value of all domestically produced final goods and services are also equal to the total amount spent by ________ less spending on imported goods and services.

A. households, firms, and governments B. households, firms, and the foreign sector C. households, firms, governments, and the foreign sector D. households and firms