If the reserve requirement is 15 percent and a customer makes a new cash deposit of $50,000, how much new excess reserves are created?

If nominal GDP is $2,000 billion and the GDP price index is 120, then real GDP is ________ billion

A) $2,000 B) $1,667 C) $16.67 D) $240 E) $6

Nations such as Egypt and Turkey may have wide differences between GNP and GDP because both the countries

A) have a high level of imports and exports relative to GNP. B) have a large portion of their GNP produced by multinational corporations. C) have a large number of citizens working abroad. D) purchase large amounts of military wares from other countries.