Macro National Bank, a commercial bank, holds $1 million in vault cash, $15 million in government and corporate bonds, $40 million in demand deposits, $10 million on deposit with a Federal Reserve bank, and $8 million worth of property. What are Macro National Bank's total liabilities?

The monetary base minus currency in circulation equals

A) reserves. B) the borrowed base. C) the nonborrowed base. D) discount loans.

If the single-input producer choice set is fully convex, the first order conditions of the profit maximization problem are necessary but not sufficient for identifying the profit maximizing production plan.

Answer the following statement true (T) or false (F)