If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $800 billion, and excess reserves total $0.8 billion, then the M1 money multiplier is

Economic growth can be obtained

A) by government legislation. B) by a change in the level of inputs or an improvement in technology. C) only through a change in the level of inputs, hence the desire for conquest throughout the history of the world. D) only through a change in technology, which explains the explosive growth of the United States.

The demand for a resource rises as

A. its productivity rises and the relative prices of substitutable resources rise. B. its productivity rises and prices of substitutable resources fall. C. its productivity falls and the relative prices of substitutable resources fall. D. its productivity falls and prices of substitutable resources fall.