A bank has $100,000 in checkable deposits and $30,000 in reserves. If the required reserve ratio is 10%, what is the amount of excess reserves?

Studying the effects choices have on the individual markets within the economy is part of

A) scarcity. B) microeconomics. C) macroeconomics. D) incentives.

Economists argue that:

a. accounting costs consider all types of costs including implicit costs b. there is an opportunity cost associated with all decisions. c. economic decisions do not have opportunity costs but other decisions do. d. economic decisions should consider sunk costs