If demand is inelastic, then price and total revenue are directly related.
Answer the following statement true (T) or false (F)
True
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When income taxes are ________ progressive, then output is ________ sensitive to price-level changes
A) more; more B) more; less C) less; more D) less; less
Under a gold standard in which one dollar could be turned in to the U.S
Treasury and exchanged for 1/20th of an ounce of gold and one German mark could be exchanged for 1/100th of an ounce of gold, an exchange rate of ________ marks to the dollar would stimulate a flow of gold from the United States to Germany. A) 7 B) 6 C) 5 D) 4
Which of the following is NOT a regulation applying to swap dealers as a result of the Dodd-Frank Act?
A) Swaps must be traded through a clearinghouse. B) The value of swap contracts are limited to no more than $8 billion. C) Dealers are required to deposit a fraction of the value of the contract with the clearinghouse. D) Data on trades must be publicly available.
Suppose a banking system has a required reserve ratio of 0.10. How much can the money supply increase in response to a $500 increase in excess reserves for the whole banking system?
A. $4,500. B. $5,000. C. $50. D. $500.