If real GDP grows at a rate of 6 percent and population grows at a rate of 2 percent, then real GDP per person grows at a rate of
A) -3 percent. B) 8 percent. C) 2 percent. D) 4 percent. E) 0.5 percent.
D
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People can reduce the inflation tax by
a. reducing savings. b. increasing deductions on their income tax. c. reducing cash holdings. d. None of the above is correct.
Answer the following questions true (T) or false (F)
1. Your checking account balance is included in your bank's assets. 2. Consider the following T-account for a bank: Assets Liabilities Reserves $1,000 Deposits $5,000 Loans $4,000 If the required reserve ratio is 20 percent, the bank at this point can make no more loans. 3. Consider the following T-account for a bank: Assets Liabilities Reserves $1,000 Deposits $5,000 Loans $4,000 If the required reserve ratio is 10 percent, the bank at this point can make no more loans.