You own an oil painting that increases in value by $12,000 but you do not sell the painting. The $12,000 is counted as ________ income.
A. taxable income but not economic
B. both economic and taxable
C. neither taxable nor economic
D. part of economic income but not part of taxable
Answer: D
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The Banks of the Mississippi has excess reserves of $20,000, desired reserves of $80,000 and the desired reserve ratio is 5 percent. What is the total amount of deposits in this bank?
A) $180,000 B) $100,000 C) $1,000,000 D) $1,600,000 E) $5,000
________ in the foreign interest rate causes the demand for domestic assets to shift to the right and the domestic currency to ________, everything else held constant
A) An increase; appreciate B) An increase; depreciate C) A decrease; appreciate D) A decrease; depreciate
Which of the following is an argument against a balanced government budget?
a. A government may decide that by accumulating large budget surpluses, it can make crucial long-term investments in human capital and physical infrastructure that will build the long-term productivity of a country. b. A government may decide that by running large budget deficits, it can make crucial long-term investments in human capital and physical infrastructure that will build the long-term productivity of a country. c. A government may decide that by running small budget deficits, it can make crucial long-term investments in human capital and physical infrastructure that will build the long-term productivity of a country. d. A government may decide that by accumulating small budget surpluses, it can make crucial long-term investments in human capital and physical infrastructure that will build the long-term productivity of a country.
There is demand for and supply of dollars and a demand for and supply of pesos. Under a flexible exchange rate system, if income growth in the United States is greater than income growth in Mexico, then
A) the demand for dollars will shift to the right and the demand for pesos will shift to the left. B) the demand for pesos will shift to the right and the supply of dollars will shift to the left. C) the demand for pesos will shift to the left and the supply of pesos will shift to the right. D) the supply of pesos will shift to the right and the supply of dollars will shift to the right. E) none of the above