Moving downward along a PPF, the opportunity cost of another unit of the good measured along the horizontal axis decreases
Indicate whether the statement is true or false
FALSE
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In the United States, where do depository institutions hold their reserves?
A) either as vault cash or on reserve with Federal Reserve district banks B) All reserves must be held at a Federal Reserve district bank. C) in accounts with the U.S. Department of the Treasury D) in their own vaults in the form of precious metals such as gold and silver
Historically, one of the most common reasons for countries to impose tariffs was
A) to protect their national security. B) to raise revenue for the government. C) to eliminate unemployment. D) to counter inflation. E) None of the above.
Senator Smith proposes that the income tax structure be revised to have two tax rates. The first, 16 percent, applies to persons whose income is between $0 and $40,000 a year. The second, 23 percent, applies to persons whose income is more than $40,000 a year. This is a
A) regressive income tax structure. B) proportional income tax structure. C) progressive income tax structure. D) cyclical income tax structure.
In considering consumers' attitudes toward fairness, which of the following have economists found to be true?
a. People are interested mainly in making themselves as well off as possible. b. People attempt to treat others fairly, even if doing so makes them worse off financially. c. People attempt to treat others fairly, but only if doing so makes them better off financially. d. People usually ignore fairness when making spending decisions.