A government program that invested in financial institutions and automakers to help stabilize markets during the great recession of 2008 was the _____
a. Troubled Asset Relief Program
b. Social Security System
c. Supplemental Security Income Program
d. Public Housing Assistance Program
e. Deposit Insurance Program
a
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The Equivalent Variation resulting from a quota is best defined as
A) the amount a consumer would pay to have the quota removed. B) the amount the consumer would need to voluntarily accept the quota. C) the amount a consumer would pay for the quantity specified by the quota. D) the loss in utility resulting from the quota.
Price controls:
A. are regulations that sets a maximum or minimum legal price for a particular good. B. allow a market to reach equilibrium. C. prevent a good from being bought or sold. D. All of these are true.
The benefits principle is often used to justify
a. the progressive income tax. b. a flat income tax. c. a regressive excise tax. d. earmarking the proceeds from taxes for specific public services.
As a result of the open market sale, Jekyll Bank
A) can create $50,000 of new loans. B) will have $45,000 of excess reserves. C) will have to borrow reserves to replenish its reserve deficiency. D) will have an increase in checkable deposits.