Given the following information about Gotham Bank:
Bank Deposits $50,000
Loans 34,000
Reserves 12,000
Reserve Requirement 20 percent
Gotham Bank is holding ________ in excess reserves.
A) $22,000 B) $12,000 C) $2,000 D) -$2,000
C
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A consumer's total transportation cost includes all of the following except which one?
A) the value of the consumer's time deciding which store to travel to B) the wear and tear on the consumer's car C) the cost of gasoline D) the value of the consumer's time getting to and from the store
The price of a gallon of gasoline at the pump increased by 5 percent at the same time that the inflation rate was also 5 percent. The nominal price of gasoline ________, and the real price of gasoline ________.
A. did not change; increased B. increased; did not change C. did not change; did not change D. increased; decreased