Suppose Acme County Bank and Trust has $1 million in total deposits and the required reserve ratio is 8%. How many dollars must the bank keep in its vaults or on deposit at a Federal Reserve Bank?

In the country levying the tariff, the tariff will

A) increase both consumer and producer surplus. B) decrease both the consumer and producer surplus. C) decrease consumer surplus and increase producer surplus. D) increase consumer surplus and decrease producer surplus. E) decrease consumer surplus but leave producers surplus unchanged.

Cartel pricing refers to an agreement made by members of the cartel to abide by the cartel's price decision. The outcome most closely resembles that of a

a. price discriminator b. godfather oligopoly c. monopolistically competitive industry d. monopoly e. competitive industry