The Full Employment and Balanced Growth Act of 1978 is also called the Humphrey-Hawkins Act and requires the President to appear before Congress twice a year to present his forecast for the economy

Van, whose utility of wealth curve is shown in the above figure, owns a home that is valued at $100,000. There is a 10 percent chance that the house will be destroyed by hurricane. The value of insurance to Van is

A) $10,000. B) $15,000. C) $20,000. D) $30,000.

The quantity of reserves supplied equals

A) nonborrowed reserves minus borrowed reserves. B) nonborrowed reserves plus borrowed reserves. C) required reserves plus borrowed reserves. D) total reserves minus required reserves.