State governments’ main source of revenue is
A. property taxes.
B. income taxes.
C. excise taxes.
D. sales taxes.
Answer: D
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If one tracks the prices of critical metals, one sees that
a. they have risen more slowly than the general rate of inflation. b. they have risen about as rapidly as the general rate of inflation. c. the prices indicate increasing scarcity of the metals. d. the prices have fluctuated too wildly to conclude anything.
The U.S. dollar exchange rate, e, expressed as Japanese yen per U.S. dollar, will appreciate when:
A. the U.S. Federal Reserve eases monetary policy. B. real GDP in the U.S. increases. C. U.S. consumers increase their preference for Japanese cars. D. real GDP in Japan increases.
Refer to the information in the table. The amount of currency held by the public ________, and the amount of reserves held by banks ________. It must be the case that, in 1932, the Federal Reserve ________. Currency held by public (in billions)Reserve-deposit ratioBank reserves (in billions)Money supply (in billions)December 1931$4.590.095$3.11$37.3December 1932$4.820.109$3.18$34.0
A. increased; also increased; increased the discount rate B. decreased; also decreased; kept the rate of inflation low C. increased; also increased; injected reserves into the economy D. decreased; increased; performed open-market operations
M1 = 1,000 Small denomination time deposits = 1,500 Savings deposit = 1,800 Money market mutual funds = 300 Large denomination time deposits = 800 How much is M2
What will be an ideal response?