The standard deduction depends on
A. family size.
B. how money is spent (e.g. on state and local taxes or home mortgage interest).
C. how much money is saved.
D. family structure (i.e. filing status).
Answer: D
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All of the following describe trends in the labor markets of the industrialized world EXCEPT:
A. growing wage inequality. B. substantial growth in real wages over the twentieth centaury C. low rates of unemployment in Western Europe. D. a slowdown in real wage growth since the 1970s.
As a perfectly competitive firm produces more and more of a good, its economic profit
A) constantly increases. B) constantly decreases. C) first decreases, then increases. D) first increases, then decreases. E) does not change.
If you must make a choice about consuming two apples, three oranges, or one candy bar, the opportunity cost of the candy bar is:
a. two apples. b. three oranges. c. two apples and three oranges. d. two apples or three oranges, whichever you prefer more. e. equal to the difference in the prices of the three options.
Assuming that households do not change their cash holdings and banks loan out all of their excess reserves, if the required reserve ratio (RRR) is 20 percent and the Fed purchases $2,000 worth of bonds from banks, how much money will be eventually created?
a. $1,800 b. $2,000 c. $10,000 d. $18,000 e. $20,000