If the required reserve ratio is 10 percent, currency in circulation is $1,200 billion, checkable deposits are $1,600 billion, and excess reserves total $2,500 billion, then the excess reserves-checkable deposit ratio is

Explain the difference between Microeconomics and Macroeconomics

What will be an ideal response?

The higher the level of inflation, the stronger the impact of reductions in the personal income tax on real GDP

a. True b. False Indicate whether the statement is true or false