Which of the following account for the largest portion of state and local government receipts?
A) Individual income taxes
B) Corporate income taxes
C) Miscellaneous taxes and fees
D) Property taxes
C
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The Banks of the Mississippi has excess reserves of $20,000, desired reserves of $80,000 and the desired reserve ratio is 5 percent. What is the total amount of deposits in this bank?
A) $180,000 B) $100,000 C) $1,000,000 D) $1,600,000 E) $5,000
A production possibilities frontier can shift outward if
a. government increases the amount of money in the economy. b. there is a technological improvement. c. resources are shifted from the production of one good to the production of the other good. d. the economy abandons inefficient production methods in favor of efficient production methods.
The theoretical proposition that the price level is just a numeraire and should not affect aggregate expenditures suggests the AD curve is:
A. downward sloping. B. upward sloping. C. horizontal. D. vertical.
Refer to Figure 1.7. The cost of producing at point G rather than point D is
A. OL units of clothing. B. OA units of food. C. KL units of clothing. D. AB units of food.