The regulator that determines the permissible activities any bank may engage in is the
A) Federal Reserve.
B) FDIC.
C) House Banking Committee.
D) Comptroller of the Currency.
A
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The supply of milk in Nexus City is perfectly elastic. If a tax is imposed on each gallon of milk sold, ________
A) the burden of the tax will fall entirely on the sellers B) the burden of the tax will fall entirely on the buyers C) the tax incidence on the sellers is higher than that on the buyers D) the deadweight loss due to taxation is zero
A sales tax on sellers a good leads to a loss of consumer surplus, but a price ceiling or a price floor on that same product will not
Indicate whether the statement is true or false
All of the following are characteristics of stock except
A) stock does not represent a promise to repay a fixed amount of funds. B) stock promises to repay a fixed amount to of funds to stock owners. C) stock represents ownership in a firm. D) dividends paid to owners of stock represent a firm's profits.
Economic rents are typically counted as:
A) accounting costs but not economic costs. B) accounting and economic costs. C) economic costs but not accounting costs. D) none of the above