A tax on suppliers will cause the supply curve to shift
A. up.
B. down.
C. right.
D. left.
D. left.
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Identify the correct statement regarding a fractional reserve banking system.
a. Only a fraction of the banks in the system are allowed to create money b. Only a fraction of the banks in the system have reserves. c. The claims outstanding against the bank are only a fraction of the bank's total reserves. d. Each bank must deposit a fraction of its reserves with the Federal Reserve Bank. e. Bank reserves represent only a fraction of bank deposits.
A government ban on a good that suffers from overconsumption may be ineffective if the:
A. likelihood of being caught breaking the ban is very low. B. punishment for breaking the ban is severe. C. likelihood of being caught breaking the ban is sufficiently high. D. public did not participate in setting the punishments.
Which of the following gave the Federal Trade Commission and the U.S. Justice Department the responsibility to enforce antitrust laws?
A. The Sherman Act B. The Wheeler-Lea Act C. The Clayton Act D. The Federal Trade Commission Act
If Al is risk averse, as his wealth increases, his total utility of wealth ________ and his marginal utility of wealth ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases