Which product is most likely to have a built-in excise tax?
(A) Organic apples
(B) High-pollutant gasoline
(C) Running shoes
(D) Clothing made locally
Ans: (B) High-pollutant gasoline
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Holding all else constant, a decrease in U.S. real GDP will ________ the supply for dollars in the foreign exchange market and ________ the equilibrium Mexican peso/U.S. dollar exchange rate.
A. increase; decrease B. decrease; decrease C. decrease; increase D. increase; increase
A central bank can help stop a bank panic by
A) raising the required reserve ratio. B) calling in consumer loans. C) acting as a lender of last resort. D) decreasing income taxes.
Disposable personal income equals personal income
A) minus personal tax payments plus government transfer payments. B) plus government transfer payments. C) minus personal tax payments. D) minus government transfer payments plus personal tax payments.