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Suppose that the legal reserve ratio set by the Fed is 10% and that the Fair Bank in Fairdealing, Missouri, initially exhibits checkable deposit accounts of $220 and a reserve account of $70. A customer of Fair Bank deposits $100 into her checking account. Fair Bank loans 80% of the deposit and places the rest in its reserves at the St. Louis Fed. How much does Fair Bank have in excess reserves after the deposit and loan? Place the figures below to represent changes in the accounts of Fair Bank and the Federal Reserve of St. Louis\' balance sheets resulting from the deposit and loan. +100 +80 +20 +10 -100 -80 -20 -10 Fair Bank Balance Sheet: Cash: Reserves: Loans: Property: Liabilities: Net Equity: Saint Louis Fed Balance Sheet: Cash: Property: Loans: Liabilities:
We’ve seen that monopolistically competitive firms will try to differentiate their products in order to eliminate substitutes. Are there comparable measures that can be taken in labor markets to decrease the number of “substitutes” for some types of ..
Review of elasticity. Suppose that when the price of gasoline changes from $2 to $1.50, the quantity demanded of gasoline decreases in Manhattan from 800 gallons per day to 960 gallons. Compute the price elasticity of demand using the midpoint formul..
One of the partners favors moving downtown because she believes the additional business gained by moving downtown will exceed the higher rent at the downtown location plus the cost of making the move.
(a) Basing your calculation on simple interest and giving your answer correct to four significant figures, calculate the annual rate of rate of interest paid to Barbara. (b) State your answer in (a) rounded to three significant figures.
Explain how much profit will the perfectly competitive firms earn. Explain how much profit will the monopoly firm earn.
Assume that a price-taking firm in the wheat industry has typical U-shaped SAC and AVC shortrun cost curves and an upward sloping SMC curve. Assume that the minimum SAC is $30 at 225 units of output, and assume that the minimum AVC is at $18 at 120 u..
Fetzer valves can be made in either China or the United States, but because labor in the United States is more skilled, on average, than labor in China, the production technologies differ. Consider the two production isoquants in the figure. Each rep..
Europe has leveled off at Illustrate what fraction of GDP every capita in the United States.
With some services, e.g., checking accounts, phone service, or pay TV, consumers choose between two or more payment plans. One can either pay a high entry fee and get a low price per unit of the service or pay a low entry fee and a high price per uni..
Smoking is banned from most public buildings in most states across the U.S. today. What type of market failure is the smoking ban intended to address. Illustrate what other options might be considered.
Converse Elucidate how a society's social values influence the provision of also payment for health services.
An individual has an income of $1000 per month with which they buy the composite good with a price of $1 and food with a price of $2/unit of food. Would the consumer prefer to get $100 in food stamps or $100 in cash? You need to justify your answer t..
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