According to the Quantity Theory of Money, the excessive printing of currency (the issuance of greenbacks and national bank notes) generated the post-Civil War increases in
(a) productivity.
(b) prices.
(c) production.
(d) rising real wages and incomes for all individuals.
(b)
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Which of the following statements are TRUE?
A) A bank's assets are its sources of funds. B) A bank's liabilities are its uses of funds. C) A bank's balance sheet shows that total assets equal total liabilities plus equity capital. D) A bank's balance sheet indicates whether or not the bank is profitable.
When the supply of a good is represented by a horizontal line, the burden of a tax is: a. shared equally between the buyers and the sellers. b. placed entirely on the buyers
c. placed entirely on the sellers. d. more on the buyers than on the sellers.
Ms. Spring currently earns $100,000 a year, while her junior partner, Mr. Fall, earns $55,000 a year. From the perspective of a utilitarian, if both of their incomes are subject to diminishing marginal utility, taking a dollar from Ms. Spring and giving it to Mr. Fall will
a. increase society's total utility. b. lower Ms. Spring's marginal utility of income. c. increase Mr. Fall's marginal utility of income. d. lower society's total utility.
The indifference curves for left shoes and right shoes would most likely be
A) upward sloping and concave to the origin. B) downward sloping and convex to the origin. C) downward sloping and straight lines. D) L-shaped.