When you open a checking account at Bank of America, Bank of America
A) has more reserves and more excess reserves.
B) has more reserves, but excess reserves remain unchanged.
C) has more deposits and less in excess reserves.
D) has more deposits, but excess reserves remain unchanged.
Answer: A
Economics
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Refer to Figure 7-5. If consumers paid the full price of medical services, the price they would pay is
A) $40. B) $55. C) $65. D) > $65.
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Economic efficiency requires that
a. individuals produce at their maximum level. b. only long-lasting, high-quality products be produced without regard to cost. c. income be distributed equally among consumers. d. all economic activity generating more benefits than costs be undertaken.
Economics