One school of thought that emphasizes the role that taxes play in an economy's supply of output is known as:
A. demand-pull economics.
B. classical economics.
C. tax-and-spend economics.
D. supply-side economics.
Answer: D
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The simple deposit multiplier can be expressed as the ratio of the
A) change in reserves in the banking system divided by the change in deposits. B) change in deposits divided by the change in reserves in the banking system. C) required reserve ratio divided by the change in reserves in the banking system. D) change in deposits divided by the required reserve ratio.
What is the best inference about the impact of a decrease in transportation costs?
a. The demand and supply curves will shift out, which will increase quantities of goods. b. The supply curve will shift out, which will lead to lower prices to consumers. c. Farmers will earn a smaller share of the selling price of their crops. d. The demand curve will shift out, which will lead to higher prices and quantities of goods.
What best describes the antebellum economy?
a. By 1860 the size of most American firms was comparable to the size of firms today. b. Manufacturing had replaced agriculture as the largest sector of employment in the US. c. Heavy equipment was one of the top-three manufacturing sectors. d. The U.S. developed many new ways of combining factors of production to substitute capital for labor.
An increase in the price of a good is shown by a:
A. rightward shift of the demand curve. B. leftward shift of the demand curve. C. movement up and to the left along the demand curve. D. movement down and to the right along the demand curve.