The Following Table Shows the Demand Schedules of Three Consumers

question 24

Multiple Choice

The following table shows the demand schedules of three consumers of wine. Assume that these three buyers constitute the entire market.

-Refer to the table above.What is the market demand for wine when the price is $3?

• A) 28 units
• B) 35 units
• C) 66 units
• D) 50 units

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Definitions:

Reserve Deposits

Reserve Deposits are funds that commercial banks hold in reserve, either in their vaults or deposited with a central bank, to meet regulatory requirements and ensure liquidity.

Federal Reserve Bank

The central banking system of the United States, responsible for managing the country's monetary policy and regulating its financial institutions.

Reserve Requirement

The minimum amount of reserves that banks are required to hold by law, usually a percentage of their deposits, to ensure bank liquidity.

Open Market Operations

Central bank activities involving the buying and selling of government securities to control the money supply and interest rates.