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Author Question: A war on drugs is waged, and, as a result, a larger quantity of drugs flowing into the United States ... (Read 86 times)

captainjonesify

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  • Posts: 543
on: Jun 30, 2018
A war on drugs is waged, and, as a result, a larger quantity of drugs flowing into the United States is seized and more drug traffickers are arrested. If demand for drugs is relatively elastic, one would expect the total expenditure on drugs to:
 a. decrease.
 b. increase.
 c. stay constant.
 d. There is not enough information available to make a determination.

Question 2

On a certain date the banking system had 2 billion in excess reserves. The legally required reserve ratio was 12.5 percent. Potentially, if these funds were fully loaned out, the banking system as a whole could increase the money supply by a maximum of:
 a. 0.25 billion.
  b. 2.5 billion.
 c. 12.5 billion.
  d. 16 billion


briezy

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  • Posts: 347
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

d


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