The more elastic the demand, the more the tax burden will fall on the buyer
a. True
b. False
Indicate whether the statement is true or false
False
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. Until 2008, the Fed could make the market federal funds rate equal the target rate by:
A. setting the discount rate below the federal funds rate. B. entering the federal funds market as a borrower or a lender. C. paying higher interest on reserves. D. mandating that all loans be transacted at the target rate.
In cities with rent controls, the actual rents paid can be higher than the legal maximum. One explanation for this is
A) rent control laws are so complicated that landlords and tenants may not be aware of what the legal price is. B) landlords are allowed to charge more than the legal maximum on some apartments so long as they charge less on others. C) because there is a shortage of apartments, tenants often are willing to pay rents higher than the law allows. D) the legal penalty landlords face for charging more than the legal maximum rent is less than the revenue earned by charging their tenants more than the maximum rent.
President Franklin Delano Roosevelt declared a bank holiday, closing all U.S. banks in ________
A) July 1776 B) October 1929 C) March 1933 D) September 2001
If consumer pays entire tax, good is _________________.
Fill in the blank(s) with the appropriate word(s).