Being guided by self-interest when making a decision means that you
a. act in a selfish manner
b. attempt to maximize utility
c. ignore the wishes of your family
d. reduce the incentives of others
Ans: b. attempt to maximize utility
Economics
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If the desired reserve ratio decreases, then
A) banks are able to make more loans. B) banks' desired reserves decrease and their excess reserves do not change. C) banks' desired reserves increase and their excess reserves decrease. D) banks are forced to buy fewer government securities. E) bank customers become more willing to make deposits in banks.
Economics
What is fiat money?
What will be an ideal response?
Economics