Refer to Figure 24-2. Ceteris paribus, an increase in workers and firms adjusting to having previously overestimated the price level would be represented by a movement from

To be binding, a price ceiling must be set above the equilibrium price

a. True b. False Indicate whether the statement is true or false

When a bank has a check drawn and cleared against it:

A. excess reserves in the banking system decline. B. the nation's total money supply falls. C. the bank's balance sheet does not change. D. the amount of required reserves the bank must have will fall.