If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $1000 billion, and excess reserves total $1 billion, then the excess reserves-checkable deposit ratio is

The private sector of the economy produces mainly goods that are nonexcludable

a. True b. False

Goods that are actually produced by firms are not really limited in supply, because the firms can always produce more of them

a. True b. False Indicate whether the statement is true or false