The reserve requirement refers to:
a. the fraction of deposits that banks are required by the Fed to hold as reserves
b. the amount of gold required to back up all Federal Reserve notes.
c. the requirement that banks reserve part of their lending capacity for small businesses.
d. the requirement that Reserve bank presidents be part of the FOMC.
e. the Treasury deposits held by the Fed.
a
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Refer to the scenario above. Jack will derive ________ units of utility if he tries to move the tree while Jill does not try at all
A) 5 B) -5 C) -2 D) 10
In the context of rent seeking, rents refer to _____
a. payments made to factors of production for private benefit that do not add anything to social output. b. payments made to politicians for private benefit that do not add anything to gross domestic product c. payments made to factors of production for private benefit that add to social output d. payments made to third parties to find opportunities for lobbying