About how much of the tax is paid by consumers in the form of higher prices?
A. 2 cents
B. 8 cents
C. 12 cents
D. 18 cents
D. 18 cents
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Which of the following would be considered a transaction deposit?
A) passbook savings account B) checking account C) 401(k) retirement account D) credit card account
Last year, 1,000 cases of cough syrup were sold at $10; this year, 1,200 cases were sold at $12. The most probable interpretation of these data is that the
A. supply and demand curves are shifting to the right. B. supply and demand curves are shifting to the left. C. supply curve has shifted to the left, with no change in demand. D. demand curve has shifted to the right, with no change in supply.
Refer to Table 2-9. Japan has a comparative advantage in the production of
A) rice. B) wristwatches. C) both products. D) neither product.
In the short run, which of the following rates of growth in the money supply is likely to lead to the highest level of unemployment in the economy?
a. 1 percent per year b. 2 percent per year c. 3 percent per year d. 4 percent per year