Assume that the stock of money is determined by the Federal Reserve and does not change when the interest rate changes. This situation means that the:
A. Supply of money curve is vertical
B. Supply of money curve is horizontal
C. Demand for money curve is directly related to the interest rate
D. Supply of money curve is inversely related to the interest rate
A. Supply of money curve is vertical
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Suppose George's income is $10,000 and he pays a tax of $1,000 . but Laura's income is $50,000 and she pays a tax of $4,000 . Such a tax is:
a. regressive. b. progressive. c. proportional. d. flat.
Comparative advantage is illustrated by the slopes of production possibilities frontiers
a. True b. False Indicate whether the statement is true or false
A tariff is
a. a tax on imports. b. a tax on exports. c. a payment by the government to an exporter. d. a legal limit on the amount of a good that may be imported.
Monetary payments to nonowners of a firm are called:
A. implicit costs. B. accounting costs. C. explicit costs. D. economic costs.