Suppose First Main Street Bank, Second Republic Bank, and Third Fidelity Bank all have zero excess reserves. The required reserve ratio is 10%. Sean, a customer of First Main Street Bank, inherits $500,000 from his eccentric aunt, who had stored the money in cash in her safe deposit box. He deposits the cash into his checking account at First Main Street Bank. The following table reflects any changes in First Main Street Bank's balance sheet (before the bank makes any new loans):

Assets Liabilities
Loans $500,000 Checkable Deposits $500,000

The following table shows the effects of new deposit on excess and required reserves, assuming a required reserve ratio is 10%.

Amount Deposited (Dollars) Change in Excess Reserves (Dollars) Change in Required Reserves (Dollars)
500,000 450,000 50,000

Now, suppose First Main Street Bank loans out all of its new excess reserves to Cho, who immediately writes a check for the full amount to Bob. Bob then immediately deposits the funds into his checking account at Second Republic Bank. Then Second Republic Bank lends out all of its new excess reserves to Kenji, who writes a check to Ginny, who deposits the money in her account at Third Fidelity Bank. Finally, Third Fidelity lends out all of its new excess reserves to Lucia.

Fill in the following table to show the effect of this ongoing chain of events at each banks. Enter each answer to the nearest dollar.

Bank Increase in Checkable Deposits (Dollars) Increase in Required Reserves (Dollars) Increase in Loans (Dollars)
First Main Street Bank
Second Republic Bank
Third Fidelity Bank

Marvin wrote a check of $58.25 for the water bill and $450 for rent. he also made a deposit of $124.16. how much is his new balance after writing the checks and making the deposit?

The market price of cheeseburgers in a college town increased recently, and the students in an economics class are debating the cause of the price increase. some students suggest that the price increased because the price of beef, an important ingredient for making cheeseburgers, has increased. other students attribute the increase in the price of cheeseburgers to a recent increase in college student enrollment.1. the first group of students thinks the increase in the price of cheeseburgers is due to the fact that the price of beef, an important ingredient for making cheeseburgers, has increased. (what happened to demand and supply, shift to the right or left)2. the second group of students attributes the increase in the price of cheeseburgers to the increase in college student enrollment. (what happens to demand and supply, shift to the right or left)3. suppose that both of the events you analyzed above are partly responsible for the increase in the price of cheeseburgers. based on your analysis of the explanations offered by the two groups of students, how would you figure out which of the possible causes was the dominant cause of the increase in the price of cheeseburgers? (choose a, b,c, or d)a)if the price increase was small, then the supply shift in the market for cheeseburgers must have been larger than the demand shift.b)if the equilibrium quantity of cheeseburgers decreases, then the demand shift in the market for cheeseburgers must have been larger than the supply shift.c)if the equilibrium quantity of cheeseburgers decreases, then the supply shift in the market for cheeseburgers must have been larger than the demand shift.d)whichever change occurred first must have been the primary cause of the change in the price of cheeseburgers.

Which of the following is least likely to a team solve problems together