ECN Exam 3 Formulas Study Guide 2026 | Economics Key Equations, Review & Practice Prep

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ECN Exam 3 Formulas Study Guide 2026 | Economics Key Equations, Review &
Practice Prep

Required reserves are calculated as: - ANS ✔✔Total reserves × Reserve requirement

Required reserves are calculated as: - ANS ✔✔Total reserves × Reserve requirement

Excess reserves are equal to: - ANS ✔✔Total reserves − required reserves

Excess reserves are equal to: - ANS ✔✔Total reserves − required reserves

The maximum a single bank can lend is: - ANS ✔✔Excess reserves

The maximum a single bank can lend is: - ANS ✔✔Excess reserves

The simple deposit multiplier is: - ANS ✔✔Reserve requirement ÷ 1

The simple deposit multiplier is: - ANS ✔✔Reserve requirement ÷ 1

The maximum change in deposits in the banking system equals: - ANS ✔✔Excess reserves × (1 ÷
reserve requirement)

The maximum change in deposits in the banking system equals: - ANS ✔✔Excess reserves × (1 ÷
reserve requirement)

Nominal interest rate equals: - ANS ✔✔Real interest rate + expected inflation

, Nominal interest rate equals: - ANS ✔✔Real interest rate + expected inflation

Real interest rate is: - ANS ✔✔Nominal rate − expected inflation

Real interest rate is: - ANS ✔✔Nominal rate − expected inflation

Consumption is equal to: - ANS ✔✔Disposable income − saving

Consumption is equal to: - ANS ✔✔Disposable income − saving

Marginal propensity to consume is: - ANS ✔✔Change in consumption ÷ change in disposable
income

Marginal propensity to consume is: - ANS ✔✔Change in consumption ÷ change in disposable
income

Marginal propensity to consume plus marginal propensity to save equals: - ANS ✔✔1

Marginal propensity to consume plus marginal propensity to save equals: - ANS ✔✔1

In a private closed economy, income equals: - ANS ✔✔Consumption + investment

In a private closed economy, income equals: - ANS ✔✔Consumption + investment

At equilibrium, which condition is true? - ANS ✔✔Saving = investment

At equilibrium, which condition is true? - ANS ✔✔Saving = investment

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