If the deposit expansion multiplier is 20, what is the reserve requirement in the banking system?

The effects of the negative supply shocks of 1973, 1979 and 2007 were different due to the ________

A) role played by rational expectations in the 1979 event B) different sources of the supply shocks C) credibility of the monetary authorities D) different individuals who led the Federal Reserve System

The marginal product of labor is the

a. additional output produced when one more worker is hired b. amount of output associated with labor inputs c. maximum amount of output produced by a given set of inputs d. maximum profit "produced" by selling a firm's output e. additional cost associated with an additional unit of labor