All else equal, oil price increases decrease annual oil consumption and therefore decrease the number of years until the oil stock is depleted

Paper currency that has been declared legal tender but is not convertible into coins or precious metals is called ________ money

A) commodity B) fiat C) electronic D) funny

If the Federal Reserve sells $10 million in government securities in the open market, with a 10 percent required reserve ratio on deposits, the maximum increase in deposits would be

a. -$50 million. b. -$100 million. c. $10 million. d. $100 million. e. none of the above