The Federal Reserve System has a network of how many Federal Reserve Banks?

Refer to Figure 12-10. At the profit-maximizing output level, the firm earns

A) zero economic profit. B) a profit of $600. C) a profit of $1,200. D) a profit of $2,700.

If you liquidate $3,000 of your mutual fund and transfer the funds to your checking account, then initially, M1 will ________ and M2 will ________

A) increase; decrease B) increase; not change C) not change; not change D) not change; decrease