Reserves are equal to the sum of
A) required reserves and excess reserves.
B) required reserves and vault cash reserves.
C) excess reserves and vault cash reserves.
D) vault cash reserves and total reserves.
A
Economics
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Given the information in Scenario 4.3, it would be correct to say that demand is:
A) infinitely elastic. B) elastic, but not infinitely elastic. C) unit elastic (Ep = -1). D) inelastic, but not completely inelastic. E) completely inelastic.
Economics
Suppose that frozen dinners were once a normal good for John, but now frozen dinners are an inferior good for him. John's demand curve for frozen dinners
A) has become steeper as a result. B) has become flatter as a result. C) has not changed as a result. D) has disappeared as a result.
Economics