Which of the following is not part of Hernando de Soto's The Other Path?
A. Reducing taxes.
B. Encouraging the "underground" economy.
C. Enforcing laws to safeguard private income.
D. Improving infrastructure.
Answer: B
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Inflation is a tax because as the government ________ the quantity of money, the price level ________, and the purchasing power of households' money ________
A) does not change; rises; increases B) increases; rises; increases C) decreases; falls; decreases D) increases; rises; decreases E) decreases; rises; decreases
An activity that would not be included in GDP would be:
A. a sweater you knit for your roommate for her birthday. B. getting tomatoes from your garden and making salsa with them. C. paying a company forcleaning your house. D. None of these would be included in GDP.
If the required reserve ratio is 10 percent and a bank receives a deposit of $1,000, how much may the bank loan out?
A. $100 B. $200 C. $900 D. $300
The study of microeconomic theory focuses on
A. individual behavior in the economy B. Role of the banking system in the economy. C. Operation of the entire economy. D. Interaction of international trade and domestic production of goods and services.