If the Fed were to attempt to increase the money supply, it would most likely do so
A) by manipulating the discount rate.
B) by manipulating the required reserve ratio.
C) by altering the amount of gold held in Fort Knox.
D) by engaging in open market operations.
D
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Vertical equity incorporates the notion that
A. those earning higher incomes should pay more in taxes. B. those earning equal incomes should pay the same in taxes. C. taxes paid should be unassociated with income levels. D. there should be no excess burden created by a tax.
Early industrialization was characterized by labor-saving technology, and this caused U.S. wages to be lower in the manufacturing industry than would otherwise have been the case
Indicate whether the statement is true or false
First-past-the-post voting entails:
A. a series of votes with two options; the winner of the first vote is paired with another option until all options have been voted on in pairs and there is one winner. B. voters ranking all available options and the option most approved of wins. C. one vote with many options, and the option with the most votes wins. D. one vote with many options, and the option that gets to 51% wins.
Prohibiting price increases in situations of true scarcity
a. prevents the market mechanism from reallocating resources more efficiently. b. discourages production. c. may lead to extreme shortages of vitally needed products. d. All of the above are correct.