In the simple deposit expansion model, if the required reserve ratio is 10 percent and the Fed increases reserves by $100, checkable deposits can potentially expand by

Fiat money means

A) only currency counts as money. B) the money can be converted into gold. C) the government has decreed that something is money. D) Italian currency. E) money's value does not change.

Can both producer surplus and consumer surplus exist at the same time in a particular market?

What will be an ideal response?