When a payroll tax is enacted, the wage received by workers
a. falls, and the wage paid by firms rises.
b. falls, and the wage paid by firms falls.
c. rises, and the wage paid by firms falls.
d. rises, and the wage paid by firms rises.
a
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If a bank has excess reserves of $7,000 and demand deposit liabilities of $100,000, and if the reserve requirement is 10 percent, then the bank has actual reserves of
A) $14,000. B) $17,000. C) $22,000. D) $27,000.
Which of the following is not money?
a. currency b. travelers' checks c. demand deposits d. savings bonds e. NOW accounts
In the macroeconomics long run...
What will be an ideal response?
Refer to the graph below representing the purely competitive market for a product. When the market is at equilibrium, the total opportunity cost of producing the equilibrium output level would be represented by the area:
A. b + c
B. b
C. c
D. a + b + c