A flat tax would increase the possibilities of abuses and misrepresentations that go with tax deductions
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following explains why a bank holds reserves?
I. Banks are required by law to hold reserves. II. To meet depositors' currency withdrawals III. To use them to make loans to households A) I only B) II only C) I and II D) I, II, and III E) I and III
Refer to Table 9-9
a. Which country has an absolute advantage in the production of both light bulbs and flash drives? b. Which country has a comparative advantage in the production of light bulbs? c. Which country has a comparative advantage in the production of flash drives? Table 9-10 Pens Pencils Tran 40 160 Farah 50 150 Table 9-10 shows the output per week for pens and pencils by Tran and Farah.
Refer to Table 19-3. Consider the data above (in billions of dollars) for an economy: Gross domestic product (in billions of dollars) for this economy equals
A) $2,200. B) $1,600. C) $1,400. D) $1,200.
The return on wealth (both human and nonhuman) is
A) a stock variable. B) income. C) measured in the form of bonds. D) a stock or flow variable depending upon whether the wealth is in the form of bonds or other financial assets.