A good or service or a resource is rival if
A) it is possible to prevent someone from enjoying its benefits.
B) it is not possible to prevent someone from enjoying its benefits.
C) its use by one person decreases the quantity available for someone else.
D) its use by one person does not decrease the quantity available for someone else.
C
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The Fed can directly lower the inflation rate
Indicate whether the statement is true or false
Suppose the Fed sells $100 million of U.S. securities to the security dealers. If the reserve requirement is 20 percent, the currency holdings of the public are unchanged, and banks have zero excess reserves both before and after the transaction, the total impact on the money supply will be a:
a. $100 million decrease. b. $500 million increase. c. $500 million decrease. d. $100 million increase.
The lower left-hand corner of a graph where the two axes meet is called the graph's origin
a. True b. False Indicate whether the statement is true or false
The optimal tax is difficult to determine because although revenues rise and fall as the size of the tax increases, deadweight loss continues to increase
a. True b. False Indicate whether the statement is true or false