Since 1960 the distribution of income in the United States has
A. become more equal.
B. become less equal.
C. remained about the same.
B. become less equal.
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If a $10 sales tax is imposed on a good and the equilibrium price increases by $10, the tax is
A) split between buyers and sellers but not evenly. B) paid fully by sellers. C) paid fully by buyers. D) split evenly between buyers and sellers. E) perhaps split between buyers and sellers but it is impossible to determine the incidence without further information.
If the government finances its spending by issuing debt to the public, the monetary base will ________ and the money supply will ________
A) increase; increase B) increase; decrease C) decrease; increase D) not change; not change
Examples of off-balance-sheet activities include
A) trading activities. B) extending loans to depositors. C) borrowing from other banks. D) selling negotiable CDs.
Which of the following is not part of the Federal Reserve System?
a. Treasury Department b. District Federal Reserve Banks c. Federal Open Market Committee d. Branches of District Federal Reserve Banks e. Board of Governors