In a closed economy, public saving plus private saving is equal to

Tom takes 20 minutes to cook an egg and 5 minutes to make a sandwich. Jerry takes 15 minutes to cook an egg and 3 minutes to make a sandwich. If Tom and Jerry trade

A) Tom will benefit and Jerry will not. B) Jerry will benefit and Tom will not. C) both will benefit. D) none of them will benefit.

If the Treasury prints currency to finance an expenditure, the impact on the money supply is similar to when the Treasury borrows from the

A) banking system when it is fully loaned-up. B) banking system when it has excess reserves. C) non-bank public. D) Federal Reserve.