When the Fed sells a U.S. bond in the open market
A. total reserves will decrease.
B. total reserves do not change but the money supply increases.
C. total reserves will increase.
D. total reserves do not change but the money supply decreases.
Answer: A
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In Atlanta, tickets for professional and college football games are substitutes. An increase in the ticket price for professional football, other things being equal, will
a. increase the demand for college football tickets. b. decrease the demand for college football tickets. c. not change the demand for college football tickets. d. decrease the demand for professional football games.
The United States is a mixed economy because there is a ______________________ sector and a _______________ sector.
Fill in the blank(s) with the appropriate word(s).
An oligopolist's production decision affects:
A. the prices charged by each firm. B. its profits. C. the profits of other firms in the market. D. All of these statements are true.
Which of the following statements is not correct regarding taxes?
A. The largest source of state and local governments tax revenue is sales and excise taxes. B. The largest source of federal government tax revenue is individual income taxes. C. A sales tax on food is a regressive tax. D. A proportional tax is equal to a fixed dollar amount.