Which of the following activities would fall under the leisure category in labor-leisure indifference curve analysis
a. cutting your own lawn.
b. cleaning your own garage.
c. neither a or b.
d. both a and b.
c. neither a or b.
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If we want to gauge the sacrifice made by a taxpayer, we should use the
a. average tax rate. b. marginal tax rate. c. lump-sum tax rate. d. sales tax rate.
The nominal interest rate equals the:
A. inflation rate minus the real interest rate. B. real interest rate minus the inflation rate. C. real interest rate plus the inflation rate. D. real interest rate divided by the inflation rate.
Assume we have a simplified banking system in balance-sheet equilibrium. Also assume that all banks are subject to a uniform 10 percent reserve requirement and checkable deposits are the only form of money. A commercial bank receiving a new checkable deposit of $100 would be able to extend new loans in the amount of:
A. $10. B. $90. C. $100. D. $1,000.
Suppose American winemakers convince the federal government to issue a directive to serve only domestically produced wine at government functions. This would be an example of:
A. moral hazard. B. the principal-agent problem. C. logrolling. D. rent-seeking behavior.