Return to deficit after 2001 was due to
A) a drop in the revenue share.
B) an increase in the expenditure share.
C) both a drop in the revenue share and an increase in the expenditure share.
D) recession.
A
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A commercial bank holds $500,000 in demand deposit liabilities and $120,000 in reserves. If the required reserve ratio is 20 percent, which of the following is the maximum amount by which this single commercial bank and the maximum amount by which the banking system can increase loans?
a) amount created by single bank = $5,000 and amount created by banking system = $25,000 b) acsb=$20,000 and acbs=$80,000 c) acsb=$20,000 and acbs=$100,000 d) acsb=$0,000 and acbs=$150,000 e) acsb=$120,000 and acbs=$500,000
Comment on the following statement: "Even though the supply of land is perfectly inelastic, the supply of land in a given use may not be fixed."
What will be an ideal response?