Fred's income has just risen from $940 per week to $1,060 per week. As a result, he decides to purchase 9 percent more steak per week. The income elasticity of Fred's demand for steak is

A system in which depository institutions hold reserves that are less than the amount of total deposits is called

A) central banking system. B) required reserve banking. C) fiat money banking. D) fractional reserve banking.

The egalitarian principle refers to

A) "To each according to her need." B) "To each exactly the same." C) "To each according to her productivity." D) "To each according to his ability."