Suppose when you are 21 years old, you deposit $1,000 into a bank account that pays 6 percent annual compound interest, and you do not withdraw from the account until your retirement at the age of 65, 44 years later. How much will be in the account when you retire?

When a commercial bank receives a deposit, it must keep part of the deposit as cash reserves to satisfy its

A) loan requirements. B) interbank loans. C) required reserves. D) securities and loans. E) excess reserves.

The level of real GDP in the long run is called

A) frictional GDP. B) potential GDP. C) low-capacity GDP. D) short-run GDP.