Refer to the graph shown.Assuming each carnival game costs $1 and each Ferris wheel ride costs $2, a consumer with $16 to spend will optimally choose to consume at point:

Suppose Acme County Bank and Trust has $1 million in total deposits and the required reserve ratio is 8%. How many dollars must the bank keep in its vaults or on deposit at a Federal Reserve Bank?

A) 0 B) $80,000 C) $920,000 D) $1,000,000 E) None of the above—it's the bank's own choice.

Andy observes that the income distribution between the richest and poorest people in the population has remained fixed for decades. He concludes that the rich stay rich and the poor stay poor. Is this a valid conclusion, or has Andy missed something?