Assume that the required reserve ratio is 10%. An increase of $1,000 in the banking system's excess reserves may result in a total expansion of new deposits for the banking system as a whole by as much as

In an open economy, the relationship between GDP (Y) and expenditures is Y = C + I + G

Indicate whether the statement is true or false

There are two types of markets in which firms face some competition yet are still able to have some control over the prices of their products. Those two types of market are

a. monopolistic competition and oligopoly. b. duopoly and triopoly. c. perfect competition and monopolistic competition. d. duopoly and imperfect competition.