If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $1000 billion, and excess reserves total $1 billion, then the monetary base is

Recall the Application. The change in demand for cigarettes resulting from the decrease in taxes would normally create, ceteris paribus

A) a decrease in their quantity supplied. B) a decrease in their supply. C) an increase in their supply. D) an increase in their quantity supplied.

In a closed economy, the supply of goods and services must be equal to:

A. consumption. B. consumption + investment. C. consumption + investment + government purchases. D. consumption + investment + government purchases ? taxes.