Our persistent war on poverty has successfully destroyed the poverty trap
Indicate whether the statement is true or false
F
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Suppose you find $1000 in your attic and decide to deposit it all into your local bank, which must hold 20% as required reserves. The deposit expansion multiplier suggests that this $1,000 "injection" of new money will most likely
A) increase the money supply by a little more than $1,000. B) increase the money supply by a little less than $1,000. C) increase the money supply by only $1,000. D) increase the money supply by $5,000.
Exemptions are more desirable than deductions for a person in the 36% tax bracket.
A. True B. False C. Uncertain
Suppose Mexico can produce 5 autos or 10 corn. Suppose the United States can produce 4 autos or 20 corn. If opportunity costs are constant for both countries, then
A) the United States has a comparative advantage in corn production. B) Mexico has a comparative advantage in corn production. C) the United States cannot gain from trade with Mexico. D) the United States has a comparative advantage in auto production.
Suppose the equilibrium price of bread is $2.00 per loaf. If the government sets a price ceiling of $1.50 per loaf: a. the equilibrium price of wheat will fall and a shortage of wheat will be created. b. the quantity of wheat supplied will increase
c. the quantity of wheat demanded will decrease. d. there will be a shortage of bread.