Refer to Figure 11.5. A decrease in exports is best illustrated by diagram
A) A. B) B. C) C. D) D.
B
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A tax structure is progressive as long as a person who has more income pays
A. the same rate of tax than someone who has less income. B. a higher rate of tax than someone who has less income. C. the same tax than someone who has less income. D. more tax than someone who has less income.
Answer the next question based on the following balance sheet for the First National Bank. Assume the reserve ratio is 15 percent.AssetsLiabilities & Net WorthReserves$50,000 Checkable Deposits$120,000Loans75,000 Stock Shares130,000Securities25,000 Property100,000?Refer to the above data. If the original balance sheet was for the commercial banking system, rather than a single bank, loans and deposits could have been expanded by a maximum of approximately:
A. $120,000. B. $213,333. C. $415,373. D. $333,500.
One result of the agriculture price supports cited in the text is that
A) sometimes surplus food is given away. B) food shortages result in most cases. C) small farms receive most of the benefits. D) none of the above.
Keynes argued that because of sticky prices and wages
A. the long-run aggregate supply curve slopes downward. B. the short-run aggregate supply curve is probably vertical. C. the short-run aggregate supply curve could be horizontal. D. the aggregate demand curve is vertical.