The Federal Reserve System consists of ________ Federal Reserve Banks.
A. 8
B. 10
C. 12
D. 14
Answer: C
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A market system tends to create inequality.
Answer the following statement true (T) or false (F)
A graphical analysis of tariffs reveals that
A. they benefit domestic consumers at the expense of domestic producers. B. their revenue gains outweigh the costs to domestic consumers. C. although the benefits are not shared equally, everyone in the domestic economy benefits from tariffs. D. they increase domestic production of the good for which imports face tariffs.
If an asymmetry of information is removed and laborers' preferences change against employment in a labor market, it would __________ employment and __________ the wage at the equilibrium in the market.
A. increase; raise B. increase; lower C. decrease; raise D. decrease; lower
Average tax rate is calculated by dividing total tax paid by total ______.
a. amount of purchases made b. number of deductions claimed c. number of taxpayers contributing d. amount of income earned