When the required reserve ratio is 15% and a banks deposits are $100 million, the bank is required to put $1 million into required reserves

Who receives benefits if regulation works according to social interest theory?

A) the entire economy B) cohesive interest groups C) everyone not in the cohesive interest group D) the regulators E) It is impossible to determine who benefits.

Long-run economic profit does not exist for fixed factors like land because

A) bidding drives up the price of the factor until no economic profit exists. B) there is no market for such factors. C) these factors have L-shaped isoquants. D) these factors will earn economic profits.