If the real exchange rate is 5/4 pounds of Chilean beef per pound of U.S. beef, a pound of U.S. beef costs $2 and the nominal exchange rate is 500 Chilean pesos per dollar, then Chilean beef costs

Consumer surplus is equal to

A) marginal benefit minus price summed over the quantity consumed. B) price minus marginal benefit summed over the quantity consumed. C) marginal benefit summed over the quantity consumed. D) price multiplied by the quantity consumed. E) marginal benefit plus price summed over the quantity consumed.

Regional Bank is subject to a 10 percent required-reserve ratio. If this bank received a new checkable deposit of $1,000 . it could make new loans of

a. $100. b. $900. c. $1,000. d. $10,000.