A tariff is which type of tax?
(a) Progressive
(b) Regressive
(c) Proportional
(d) Neutral
(b)
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Use the following graph to answer the next question.
If the federal funds market is at equilibrium at point C and the Federal Reserve decides to conduct an open-market sale, then it must be trying to set a ________.
A. lower target federal funds rate by increasing the amount of reserves in the market B. higher target federal funds rate by increasing the amount of reserves in the market C. higher target federal funds rate by reducing the amount of reserves in the market D. lower target federal funds rate by reducing the amount of reserves in the market
Refer to the scenario above. Which family pays the lowest percentage of its income as taxes if the government follows a progressive tax system?
A) The first household B) The second household C) The third household D) The fourth household
Which of the following is the closest to being a perfectly competitive firm?
a. a hot dog vendor in New York b. Microsoft Corporation c. Ford Motor Company d. the campus bookstore e. a public university
A price ceiling does all of the following except:
A. Increases the quantity demanded relative to the equilibrium level. B. Creates excess supply. C. Creates a market shortage. D. Decreases the quantity supplied relative to the equilibrium level.