If the government could raise taxes on one good, which product should the government increase tax rates in order to raise tax revenue?
a. Cigarettes
b. Alcohol
c. Sodas
d. None of the above
a
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Nonrivalry is a feature of
A) goods but not services. B) all nonexcludable goods. C) excludable goods. D) public goods.
Trading in a barter economy requires
a. money. b. a double coincidence of wants. c. equal sharing of assets. d. all people to be farmers.
The aggregate supply curve shows the relationship between the:
A. unemployment rate and total production by firms. B. overall price level in the economy and the unemployment rate. C. inflation rate and the overall price level in the economy. D. overall price level in the economy and total production by firms.
A bank faces a required reserve ratio of 5 percent. If the bank has $200 million of checkable deposits and $15 million of total reserves, then how large are the bank's excess reserves?
A. $0 B. $5 million C. $10 million D. $15 million