The Federal Reserve System was established by the Federal Reserve Act of

The concept of market structure refers to three main characteristics of buyers and sellers in a particular market. These include ____

a. the degree of seller and buyer concentration in the market b. the degree of actual or imagined differentiation between the products or services of competing producers c. the pricing behavior of the firms d. a and b e. a, b, and c

Assume that the loans made by the Paris First National Bank contracted from $16 million to $12 million. If the legal reserve requirement was increased from 20 percent to 40 percent, how much would the money supply shrink?

a. $5 million b. $10 million c. $15 million d. $20 million e. $24 million