An increase in aggregate demand in the Classical model causes the price level to

In the United States, where do depository institutions hold their reserves?

A) either as vault cash or on reserve with Federal Reserve district banks B) All reserves must be held at a Federal Reserve district bank. C) in accounts with the U.S. Department of the Treasury D) in their own vaults in the form of precious metals such as gold and silver

If a firm minimizes its losses by shutting down in the short run, then at all other output levels,

a. variable cost would exceed total revenue b. total revenue exceeds total cost c. marginal revenue exceeds marginal cost d. total cost is zero e. total revenue is zero