Suppose that in 2014, currency in circulation was $950 billion, required reserves were $60 billion, and excess reserves were $840 billion. At that time, the Federal reserve extended $70 billion in discount window loans to the banking system. The monetary base was billion?

The link between volume of production and the cost of building manufacturing operations is particularly important in industries characterized byanswers: process innovations. product manufacturing. product innovation. process manufacturing.

Which of the following statements is not correct? 1) trade allows for specialization. 2) trade has the potential to benefit all nations. 3) trade allows nations to consume outside of their production possibilities curves. 4) absolute advantage is the driving force of specialization.

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