Central banks around the world that are ________ are most effective.
A. independent of political influence
B. run by those elected by popular vote
C. run by those appointed for life
D. controlled by political parties
Answer: A
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An increase in the reserve requirement ________ required bank reserves and ________ the money supply
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
Why does a rent ceiling create an inefficient and unfair outcome in the housing market?
What will be an ideal response?
Equivalent variation means
A. finding an equivalent change in income that puts a person on the same utility as a change in price would. B. finding equal tax rates that insure quantity demanded does not change. C. equalizing excess burden across all markets. D. moving the same distance in either direction from a starting point on an indifference curve.
An increase in the price of a resource would cause: a. producers to substitute other inputs for the resource
b. consumers to substitute other products for goods that increase in price as the result of the higher resource price. c. an increase in the demand for products that use the resource intensely. d. both (a) and (b) to occur.