Currency in circulation is currency that meets all of the following criteria except for currency
A) outside the Treasury.
B) outside the Federal Reserve.
C) held as vault cash in banks.
D) held by the non-bank public.
C
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Suppose the price level this year is 150 and the price level last year was 125. The inflation rate between last year and this year was
A) 20 percent. B) 2 percent. C) 16.6 percent. D) 1.6 percent.
Elimination of the corporate income tax would ________ government saving and probably ________ private business saving
A) increase, increase B) increase, decrease C) decrease, increase D) decrease, decrease
If the MPC = .75, the spending multiplier is:
a. 4. b. 5. c. 1.33. d. 1.20. e. .25.
A tariff differs from a quota in that a tariff is a. levied on imports, whereas a quota is imposed on exports
b. levied on exports, whereas a quota is imposed on imports. c. a tax levied on exports, whereas a quota is a limit on the number of units of a good that can be exported. d. a tax imposed on imports, whereas a quota is an absolute limit to the number of units of a good that can be imported.