For complementary goods, an increase in the price of one results in a decrease in demand for the others
Indicate whether the statement is true or false
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A progressive income tax is defined as a tax for which
A) total taxes paid increase with the level of income. B) total taxes paid are independent of the level of income. C) the average tax rate increases with the level of income. D) the average tax rate decreases with the level of income.
Which of the following is not a requirement of member banks of the Federal Reserve?
a. buy stock of the Federal Reserve Bank of its district. b. maintain sufficient monetary reserves to meet the requirements set by the Board of Governors. c. hold ten percent of their assets in short-term government securities. d. insure their deposits with the FDIC.
When the federal government deregulated the banking industry, savings and loans
a. continued to make only mortgage loans b. began to make riskier loans in areas such as speculative land development c. developed new loan markets which allowed them to prosper and expand d. began to merge with commercial banks e. lowered interest rates to attract new depositors
Resources are
a. scarce for households but plentiful for economies. b. plentiful for households but scarce for economies. c. scarce for households and scarce for economies. d. plentiful for households and plentiful for economies.