Suppose the required reserve ratio is 20 percent. If banks are conservative and choose not to loan all of their excess reserves, the real-world deposit multiplier is

Different people may have different tastes, but their tastes do not change over time

a. True b. False

The argument that with initial protection an industry will eventually become competitive is called the

A. strategic bargaining argument. B. the trade adjustment assistance argument. C. infant industry argument. D. national security argument.