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Suppose Bank of America has checkable deposits of $5,000,000 and a reserve requirement of 10%.  How much are they required to hold on reserve?

True or False.  Future budget deficits are predicted due to the aging population expense its affect on decreased payroll taxes and social security and medicare taxes collection.

True or False.  GDP is a rough but useful number.

True or False.  If banks are under financial stress, because of a widespread decline in the value of their assets loans may become more available impacting sectors of the economy.

Most real-world choices aren’t about getting all of one thing or another, instead, most choices involve _________________, which involves comparing the benefits and costs of choosing a little more or a little less of a good.

Which tool will the Fed use to decrease the money supply and deal with a problem of inflation?  Mark all that apply.

Mark all that apply.  Bartering

True or False. Public policies to assist the unemployed as it relates to the supply side of the labor market affect how eager people are to find work

Externalities are a type of market failure because:

Purchasing groceries using a debit card best exemplifies money serving as a