Consumer surplus is the difference between the maximum
amount the consumer is willing to pay for the price of the good and the price
that was actually paid by the consumer or commonly known as the current market
price. The price that the consumer is willing to pay is determined by the
demand curve in the market.
Answer:
C. Required reserves decrease by $20.
D. Outstanding liabilities decrease by $200.
A. Required reserves increase by $65.00.
D. Outstanding liabilities increase by $650.
Explanation:
<u>PART I:</u><u> The withdrawal from the checking accounts:</u>
makes the required reserves to decrease as there is less cash deposists.
Also, the bank no longer has the obligation to give this 200 dollars to Shantee thus, otstanding liabilities decrease by 200 as well:
checking deposits 200 debit
cash 200 credit
<u>PART II:</u><u> Deposit in a checking account</u>
This is the opposite. The bank reserve must increase by 10% of the deposit
650 x 10% = 65
And the outstanding liaiblities increase by the full amount as later the bank will give back 650 dollars to Dalon in the future.
Because he divided the population into smaller groups and then randomly sampled each group, he would be using a stratified random sampling procedure.
Answer:
Option (C)
Explanation:
As per the data given in the question,
Price of salt increases by = 25%
Quantity of pepper demanded increases by = 4%
Cross price elasticity = Quantity of demand increases ÷ Price of salt increases
= 4% ÷ 25%
=0.16
Hence Cross-price elasticity of demand between salt and pepper would be positive.
So option (C) is answer
