Municipal bonds are issued by:
A. the U.S. Treasury, but the proceeds can only be used by cities.
B. cities only.
C. states and cities, but their interest is taxable only at the federal level.
D. states and cities and their interest is exempt from U.S. government taxation.
Answer: D
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Along the short-run supply curve (SRAS), a decrease in the aggregate demand curve will decrease: a. both the price level and real GDP
b. real GDP without raising the price level. c. the price level without affecting real GDP. d. the price level but reduce real GDP.
"If I didn't have class tonight, I would save the $4 campus parking fee and spend four hours at work where I earn $10 per hour." The opportunity cost of attending class this evening is: a. $4
b. $40. c. $44. d. $0.
Higher than expected inflation rate: a. shifts short-run Phillips curve to the right
b. shifts long-run Phillips curve to the right. c. shifts both short-run and long-run Phillips curve to the right. d. shifts short-run Phillips curve to the left.
Suppose the cost of flying a 100-seat plane for an airline is $50,000 and there are 10 empty seats on a flight. The average cost per seat is
a. $50. b. $500. c. $50,000. d. This cannot be determined from the information given.