Assuming all excess reserves are loaned out, currency holdings by the public are zero, and a reserve ratio of 20 percent, an initial deposit of $6,000 will lead to a total increase in deposits of

According to the profit-maximization goal, the firm should attempt to maximize short-run profits since there is too much uncertainty associated with long-run profits

a. true b. false

Economist A believes that if tax rates are cut, tax revenue is likely to rise. This economist most likely believes that the percentage decrease in tax rates will ______________________________ percentage rise in the tax base

A) be larger than the resulting B) be equal to the resulting C) be smaller than the resulting D) occur long after the E) a and d