Suppose Bill Gates deposits $20 million into his checking account at Wells Fargo Bank. If the required reserve ratio is 10 percent, what is the maximum change in money supply?

The central problem all individuals face is

A) greed. B) insufficient money income. C) scarcity of resources. D) the desire for present enjoyment. E) unequal wealth.

Jim saw a decrease in the quantity demanded for his firm's product from 8000 to 6000 units a week when he raised the price of the product from $200 to $250 . Based on this information, the price elasticity of demand for Jim's product is

a. >1 b. 1 c. <1 d. 0