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Joe has never trusted banks and always kept his money in cash. Joe pulls out his money jar, discovers that it has $20,000 in it, and decides it is unsafe to keep that much cash. Joe stops at the Local National Bank the following day, opens a checking account, and deposits the $20,000.
Assume that all banks in the banking system have a 10% reserve requirement. Further, assume that all banks in the banking system are fully loaned up both before and after Joe makes his deposit. Based on the Multiple Expansion of Bank Deposits concept, answer the following:
1. By what amount will total lendable deposits in the banking system increase after the initial deposit?2. By what amount will new loans in the banking system increase given a monetary multiplier of 10 ( 1/.1)?3. By what amount will reserves in the banking system increase after the initial deposit?
Assume that the demand and supply functions for good X are as follows: What is the equilibrium price and equilibrium quantity?
Using the AD-AS model, if consumers and business become more optimistic about the future direction of the economy and increase spending, then: aggregate demand will decrease, aggregate demand will increase.
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Describe why a change in a firm's total fixed cost of production will shift its average total cost curve, but not its marginal cost curve.
how many units should be produced by plant 1 and plant 2 to maximise profit for this monopoly
Given a 15% raise in a good's price and a 25% decrease in quantity demanded for good by consumer, which of the following types of elasticity best describes the demand curve for the consumer?
Calculate marginal cost and marginal revenue for each level of output when market price and what is the firm's profit-maximizing level of output
The United States dollar exchange rate can be affected by changes in the current account, capital account and official reserve transactions.
Think a small open economy with a fixed exchange rate system. Assume there is a general expectation that central bank will revalue the domestic currency in the future
A big city just doubled the yearly fee for hot dog push carts that had exclusive rights to a spot just south of big museum of art to $288,000
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