A bank has $100 million of checkable deposits, $6 million of required reserves, and $2 million of excess reserves. What is the required reserve ratio?

A reason why an increase in the price level decreases the quantity of real GDP demanded is that

A) the buying power of money increases. B) potential GDP decreases. C) the price of domestic goods and services increases relative to foreign goods and services. D) the real interest rate falls. E) the inflation rate decreases.

Refer to Figure 9-3. What is the area of consumer surplus after the imposition of the quota?

A) A B) G + H C) A + G + H D) G + H + E + I+ J + M