Given the equations for demand and supply: Qd = 48 ? 4P and Qs = 4P ? 16, respectively, the quantity demanded equals the quantity supplied at a price of:

The desired reserve ratio is 10 percent. Fly By Night Bank has deposits of $250,000 and reserves of $25,000. What is the amount of its excess reserves?

What will be an ideal response?

Figure 11-2

Which graph in Figure 11-2 best reflects a Keynesian's view of the short-run impact of an increase in the personal income tax rate?

a.
1

b.
2

c.
3

d.
4