Earmarked taxes _____
a. are taxes whose revenues are dedicated to a particular program
b. are taxes whose revenue is given to a specific group
c. are income taxes that minimize the decline in labor supply
d. are taxes that go into the general fund
a
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In the figure above, the curve that shows the diminishing marginal utility is
A) total utility curve A because it gets steeper as consumption of tomatoes increases. B) total utility curve A because it is higher than total utility curves B or C. C) total utility curve C because it gets flatter as consumption of tomatoes increases. D) total utility curve C because it is lower than total utility curves B and C.
When the economy enters a recessionary phase of the business cycle, unemployment tends to
A) be unchanged. B) increase. C) decrease. D) change in the same direction as the rate of inflation.
The discount window is a:
A. lending facility that banks can use at specified times to borrow reserves needed to meet reserve requirements. B. term used for when large banks offer a lower interest rate for attracting more borrowers. C. lending facility that allows any bank to borrow reserves from the Fed. D. term used for large banking transactions that are associated with lower risk, and therefore qualify for lower interest rates.
The influential book written by Adam Smith was:
A. The Wealth of Nations. B. The Age of the Economist. C. The Affluent Society. D. Capitalism and Freedom.