In the economy of Briskland, the commercial banks have deposits of 500 billion. Their reserves are 50 billion, 80 percent of which is in deposits with the Central Bank.
There is 20 billion in Central Bank notes outside the banks, and there are no coins. a) What is the monetary base? b) If all the deposits are money, what is the total quantity of money? c) What is the banks' reserve ratio? d) What is the currency drain as a percentage of the quantity of deposits?
Question 2
A firm in ________ will engage in ________ to try to earn an economic profit.
A) perfect competition; advertising
B) monopolistic competition; product differentiation
C) perfect competition; price wars
D) monopolistic competition; price wars
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Joseph Banks
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An example of a commercial spill kit.
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