Since 1980
A) banks have decreased risk taking to offset the decline in profits.
B) banks have offset the decline in profits from traditional activities with increased income from off-balance-sheet activities.
C) banks have offset the decline in profits from off-balance-sheet activities with increased income from traditional activities.
D) bank profits have grown rapidly due to deregulation.
B
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Progressive wage taxes cause worker leisure/consumption budgets (with leisure on the horizontal axis) to become steeper as leisure increases.
Answer the following statement true (T) or false (F)
Which of the following statements is inaccurate?
A. Voters are quick to blame government meddling for many economic woes. B. There is substantial agreement about whether government improves market outcomes. C. Ideally, the market mechanism will lead an economy to the optimal mix of output. D. There is substantial agreement about how and when markets fail.
If the government decreases the income tax rate, they assume it will affect which component of GDP?
A. NX B. C C. G D. A change to the income tax rate will not affect any of these components.
An expansionary monetary policy is most likely to produce an inflationary effect with little impact on output when the economy
A. is near full employment and the aggregate supply curve is horizontal. B. is near full employment and the aggregate supply curve is vertical. C. has substantial unemployment and the aggregate supply curve is vertical. D. has substantial unemployment and the aggregate supply curve is horizontal.