A bank's total reserves consist of
A. vault cash and Treasury bills.
B. vault cash only.
C. all assets.
D. vault cash and reserve deposits held at a regional Federal Reserve Bank.
D. vault cash and reserve deposits held at a regional Federal Reserve Bank.
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The property of diminishing marginal rate of substitution follows from the property that the indifference curve is
A) downward sloping. B) upward sloping. C) bowed in toward the origin. D) bowed out from the origin.
Assume that the government proposes a negative income tax that calculates the taxes owed as follows: Taxes Owed = (1/3 Income) - 10,000 . If a family doesn't earn any income, how does the negative income tax affect it?
a. It will receive an income subsidy of $1,000. b. It will receive an income subsidy of $3,000. c. It will receive an income subsidy of $10,000. d. It will not be affected at all, since the negative income tax requires a family to earn income.
The _____________of a business's supply curve depends on the nature of its production.
Fill in the blank(s) with the appropriate word(s).
In practice, economists:
A. disagree about what the level of potential output is and about what policies are appropriate. B. agree about what the level of potential output is but disagree about what policies are appropriate. C. agree about what the level of potential output is and about what policies are appropriate. D. disagree about what the level of potential output is but agree about what policies are appropriate.