In 1865, Congress raised the tax on state bank notes to 10 percent of the value of notes in circulation. This tax:
a. ended the dual banking system in the U.S.
b. was less than the tax on national bank notes.
c. was rescinded in 1870.
d. was avoided through the use of deposits.
d. was avoided through the use of deposits.
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Refer to the table above. If the price of a chair decreases to $5 and the rental price of machines is $50 per day, up to how many machines should the firm rent?
A) 2 B) 3 C) 5 D) 7
Given full-employment output = $2,800, equilibrium real GDP = $2,500, and MPS = 0.25, which of the following changes would most likely bring the economy to a full-employment level of real GDP?
a. $300 decrease in taxes. b. $75 increase in government spending. c. $75 decrease in taxes. d. $300 increase in government spending. e. $75 decrease in government spending.
Which of the following is an example of a fiscal policy initiative?
A. Lowering of interest rates B. Increase in reserve requirements C. Reduction in taxes D. Decrease in money supply
Holding the nonprice determinants of supply constant, a change in price would
a. result in either a decrease in supply or an increase in supply. b. result in a movement along a stationary supply curve. c. result in a shift of demand. d. have no effect on the quantity supplied.