If the Fed raises the legal reserve requirement to 40 percent, and if the total money supply is at its maximum and is $750, the initial deposit must have been
a. $40
b. $250
c. $300
d. $450
e. $1,875
C
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A ________ tax system is one in which tax rates increase with taxable base incomes
A) regressive B) progressive C) proportional D) supplementary
Because private firms cannot make money pricing at marginal cost for collective consumption goods, government must produce collective consumption goods for them to exist
a. True b. False
When personal income is greater than national income,
a. personal income taxes are less than transfer payments b. personal income taxes are less than Social Security contributions c. income that is earned but not received is greater than income that is received but not earned d. income that is received but not earned is greater than income that is earned but not received e. there is no difference between income that is earned and not received and income that is received and not earned
If supply rises, what happens to equilibrium price and quantity?
What will be an ideal response?