15. The marginal propensity of saving in Country A is 0.5. Currently, the country is suffered from COVID-19 and the government gives 3000 local dollars to every national. Suppose due to this policy, each national can help to increase money supply 2000 local dollars through the fractional-reserve banking system. What is the reserve ratio for Country A? (A) 20% (B) 30% (C)40% (D) 50%

10. Ethan enjoys buying books and going to the movies. He has income of $150 to spend on these two goods each month. The price of a book is S15 and the price of going to the movies is also 815. He currently consumes four books and six movies a month. If the price of a book increases to $20, then, (A) the substitution and income effects would both predict Ethan would consume more of both goods. goods. (B) the substitution and income effects would both predict Ethan would consume less of both (C) the substitution effect would predict Ethan would consume more books and less movies, and the income effect would predict he would consume less of both. (D) the substitution effect would predict Ethan would consume less books and more movies and the income effect would predict he would consume less of both.

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