If the banking system has a required reserve ratio of 25 percent, then the money multiplier is

In the case of a positive externality, in order to achieve efficiency the government must set the _________________ equal to the marginal ____________________

A) tax; external costs B) tax; external benefits C) subsidy; external costs D) subsidy; external benefits E) subsidy; private costs

Gross domestic product is calculated by summing up

A) the total quantity of goods and services in the economy. B) the total quantity of goods and services produced in the economy during a period of time. C) the total market value of goods and services in the economy. D) the total market value of final goods and services produced in the economy during a period of time.