If the U.S. dollar depreciates in value relative to foreign currencies, then this will:
A. decrease aggregate demand.
B. decrease aggregate supply.
C. cause a movement along the aggregate demand curve.
D. increase aggregate supply.
Answer: B
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The report of the 1911 National Monetary Commission
(a) advocated a turn to bimetallism. (b) advocated unification of the state and national banking systems. (c) advocated centralized reserve associations which would coordinate commercial banking processes such as check clearing. (d) advocated a unified central bank modeled after the Bank of England.
The opportunity cost of attending a concert would include:
a. the price you paid for the ticket and the value of your time. b. the price you paid for the ticket, but not the value of your time. c. the value of your time, but not the price you paid for the ticket. d. neither the price of the ticket nor the value of your time.
If the government removes a binding price ceiling from a market, then the price received by sellers will
a. decrease, and the quantity sold in the market will decrease. b. decrease, and the quantity sold in the market will increase. c. increase, and the quantity sold in the market will decrease. d. increase, and the quantity sold in the market will increase.
What percent of taxable income is reported on tax returns according to an Internal Revenue Service survey?
a. 85% b. 75% c. 65% d. 55%