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Reserve requirement for banks is set at 5%. Your firm withdraws $42,000 on its line of credit at the Security Bank to purchase equipment for expansion. The equipment vendor deposits the amount that he receives from you at his bank, The Highland Bank. By how much has each bank's excess reserves changed as a result of your withdrawal and expenditure? What is the maximum amount of new money that can be created in the banking system as a result of your purchase? Show all work. Suppose that the Security Bank discovers its reserves will temporarily fall slightly short of those legally required. How might it remedy this situation through the Federal Funds market? Explain how the Fed manipulates the Federal Funds Rate in order to achieve macroeconomic objectives
In 1885, first class postage for a one-ounce letter cost $0.02. The same postage in 2011 costs $0.46. What compounded annual increase in the cost of first-class postage has been experienced over this period of time
In January, 2,500 quarts of ice cream are sold in Boston at $2 perquart. In February, 3,000 quarts are sold at $2.50 a quart. This change in the price and quantity sold of ice cream mayhave been caused by a. areduction in wages in the Boston area.
Suppose that the marginal cost faced by a shoe company is $10 for a pair of shoes. If the demand elasticity for the company's shoes is also constant, and is equal to 5, what price should the company charge for a pair of shoes
On the left tab under Publications, go to the Interactive Data Tables. Select National Income and Product Accounts. examine all four components of GDP (C, I, G, and Xn). Which of these four components of AD declined the most during the 2007 and 200..
You can either spend spring break working at home in Alabama for $200 a day for five days, or you can spend the week in Costa Rica where travel expenses will total $700 (food, hotel, and a plane ticket.)
Industry X is perfectly competitive and each firm produces output with a technology Q = C ½ L ½, where C is coal and L is labor. The demand for industry X's output is Q = 10,000 - 2P, and the firms in industry X can purchase coal at a cost
Why is advertising prevalent in many oligopolies, especially when industry demand is inelastic Illustrate your answer by assuming that with advertising, a firm's demand curve has price elasticity of -1.5 and without advertising, it is -2.
Suppose that an initial $40 billion increase in investment spending expands GDP by $40 billion in the first round of the multiplier process. If GDP and consumption both rise by $36 billion in the second round of the process, what is the MPC in thi..
Consider a population consisting of two types, "cooperators" and "defectors." Each individual interacts with a randomly chosen member of the population. When two cooperators interact, each earns a payoff of 6.
the following data are collected for a computer manufacturer companyquantity price per unit total cost of
Mac Rowe doesn't sweat the petty stuff. In fact, he just cannot detect small differences. He consumes two goods, x and y. He prefers the bundle (x,y) to the bundle (x',y') if and only if (xy - x'y' > 1) . Otherwise he is indifferent between the tw..
Demand function: qd=5,000-50p, where qd is quantity demanded and p is price per unit. A. How man units with be demanded between $10, and 20 Between $20 and 30 B. What is the arc price elasticity of demand $10, and 20? Between $20 and 30 C. What is th..
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