The government could increase Social Security tax revenues by raising the payroll tax cap beyond its current $110,000
Indicate whether the statement is true or false
TRUE
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Prior to 2008, a bank might have borrowed reserves from another bank because:
A. banks never borrowed from the Fed. B. it kept its reserves too low and could not meet Fed requirements. C. borrowing reserves from other banks is the only way to gain access to reserves. D. it was in danger of becoming insolvent and collapsing.
Two small airlines provide shuttle service between Las Vegas and Reno. The services are alike in every respect except that Fly Right bought its airplane for $500,000, while Fly by Night rents its plane for $30,000 a year
If Fly Right were to go out of business, it would be able to rent its plane to another airline for $30,000. Which airline has the lower costs? A) Fly Right. B) Fly by Night. C) Neither, the costs are identical. D) Neither, Fly by Night has lower costs at small output levels and Fly Right has lower costs at high output levels.
If real GDP increases and the price index also increases: a. nominal GDP must also have risen
b. nominal GDP must have fallen. c. nominal GDP could have either risen or fallen. d. the percentage increase in nominal GDP must have been greater than the percentage increase in the price level.
Using a graph, explain the relationship between average cost and marginal cost.
What will be an ideal response?What will be an ideal response?