If the budget deficit is $50 billion and the structural deficit is $10 billion, the cyclical deficit is

The desired reserve ratio is 10 percent. Joe deposits $1,000 in Bank A. Bank A keeps its minimum desired reserves and lends the excess to Fred. Fred spends his loan at J.C. Penney. J.C. Penney deposits the check it receives from Fred in Bank B

Bank B keeps its minimum desired reserves and lends the excess to Mary. How much can Bank B lend to Mary? A) $900 B) $90 C) $810 D) $100 E) $1,000

Assume you pay a premium of $0.50/bu for a put option with a strike price of $4.00/bu and that the current futures price is $3.75/bu. Then, the option is:

A. In-the-money B. At-the-money C. Out-of-the-money D. None of the above