A bank has $100,000 in checkable deposits and $30,000 in reserves. If the required reserve ratio is 10%, what is the amount of required reserves?

If a 10 percent price increase generates a 20 percent decrease in quantity demanded, then demand is

A) elastic. B) perfectly inelastic. C) perfectly elastic. D) inelastic. E) unit elastic.

If the price of refillable butane lighters was to decrease, then

A) the quantity of butane demanded would increase. B) the demand for butane would decrease. C) the demand for butane would increase. D) the quantity of butane demanded would decrease.