If the government places a new tax on the hiring of workers, then we would expect
a. both the short run and long run Phillips curve to shift to the right.
b. both the short run and long run Phillips curve to shift to the left.
c. the long run Phillips curve remains unchanged while the short run Phillips curve shifts to the right.
d. the short run Phillips curve remains unchanged while the long run Phillips curve shifts to the right.
e. none of the above.
B
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Which of the following describes a characteristic of a perfectly competitive market?
A) Equilibrium is achieved when demand for the product sold in the market equals the supply. B) There are many buyers and sellers. C) There are many sellers but few buyers. D) There are many buyers but few sellers.
Suppose you get a tax refund of $20,000 and instead of spending it on items that had been on your wish list for two years, you put it all in your checking account at the First National Bank of Urbana. And if that deposit allows the bank to loan out $17,000 . then the legal reserve requirement must be
a. 0.15 percent b. 0.85 percent c. 1.5 percent d. 8.5 percent e. 15 percent
Which one of the following statements about public debt is most accurate?
a. Because rich and poor people hold government bonds, they are equally affected by the debt. b. Wealthy people are more likely to hold government bonds, and so they are less likely to be adversely affected by the debt c. Wealthy people are less likely to hold government bonds, and so they are more likely to be adversely affected by the debt. d. Poor people are more likely to hold government bonds, and so they are more likely to be adversely affected by the debt. e. Poor people are less likely to hold government bonds, and so they are less likely to be adversely affected by the debt.
The Fed is one of the largest departments within the U.S. Treasury
Indicate whether the statement is true or false