If a bank had demand deposits of $50 million and it faced a 25 percent required reserve ratio, it would be required to have how many reserves?

Describe what took place during the Industrial Revolution

What will be an ideal response?

Refer to Figure 2-5. If the economy is currently producing at point X, what is the opportunity cost of moving to point Y?

A) 14 million tons of steel B) 5 million tons of steel C) 5 million tons of paper D) 9 million tons of paper