Suppose a bank has $3 million in excess reserves and total reserves of $10 million. A required reserve ratio of 10% is applicable to all deposits at the bank. What is the total amount of deposits at the bank?

If the quantity of money starts to grow more rapidly than real GDP and velocity does not change, the result is

A) slower growth in the price level. B) an increase in investment. C) more rapid growth in potential GDP. D) the inflation rate rises. E) an eventual slowing in the growth rate of the quantity of money.

Why is a monopsony a negative situation for a worker?

a. Wages are lower than in a competitive labor market. b. Their workplace is not in a convenient location. c. Increased hiring causes workplace overcrowding. d. They have better options for employment nearby.