The money supply is $10 million, currency held by the nonbank public is $2 million, and the reserve—deposit ratio is 0.2. Bank deposits are equal to

In the U.S., the Federal government runs a chronic budget deficit, whereas many state and local governments do not, because:

A. Many state and local governments have balanced-budget laws that make deficits illegal, while the Federal government does not B. Voters in Federal elections tend to favor budget deficits, while voters in state and local elections do not C. Many state and local governments face stricter accounting standards than the Federal government does D. Elections at the state and local levels tend to occur more frequently than at the Federal level

The median Head Start teacher has been teaching

A. between 6 months and a year. B. 15 years with Head Start and 20 years total. C. 5 years with Head Start and 10 years total. D. less than 6 months.