Refer to Exhibit 11-4. If a person’s taxable income is $30,000, how much does he pay in taxes?
A. $4,850
B. $1,400
C. $3,900
D. $4,345
Answer: A. $4,850
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Harry and his wife are looking for a new house. However, they cannot decide where to buy the house. Harry wants to live in Santa Cruz, while his wife wants to live in Ontario
If Harry values living in Santa Cruz at $10,000 and his wife values living in Ontario at $15,000, in which place are they likely to buy a house?
A private good is ________ and ________
A) rival; excludable B) nonrival; excludable C) rival; nonexcludable D) nonrival; nonexcludable
Assume that the currency—deposit ratio is 0.3 and the reserve—deposit ratio is 0.2. What is the money multiplier?
A) 1.5 B) 2.0 C) 2.6 D) 5.0
In the analysis of the interest rate effect, when the price level changes, the quantity of money households and firms' want to hold changes in the ______ direction as interest rates, while investment changes in the _____ as the quantity RGDP demanded
a. Same, same b. Same, opposite c. Opposite, same d. opposite, opposite