The buying and selling of government bonds by the FOMC constitutes:
a. an open market operation.
b. a federal funds adjustment.
c. a discount rate adjustment.
d. a change in the reserve requirement.
e. sterilization of the money supply
a
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People will buy more of an inferior good when their income decreases
Indicate whether the statement is true or false
Which of the following groups had the highest poverty rate in 2014 in the United States?
A) Asians B) Hispanics C) blacks D) female heads of families
If the foreign exchange rate for 1 Hungarian forint is 0.5 cent, then
A) a dinner priced at 400 forints will cost $20. B) a wine that sells for 600 forints will cost $3,000. C) a Big Mac hamburger priced at 50 forints will cost $1. D) a hotel room renting for 40,000 forints will cost $200.
Which of the following examples illustrates a progressive income tax?
a. I earn $500 and pay $50 in taxes; you earn $1,000 and pay $100 in taxes. b. I earn $500 and pay $50 in taxes; you earn $1,000 and pay $50 in taxes. c. I earn $500 and pay $50 in taxes; you earn $1,000 and pay $80 in taxes. d. I earn $500 and pay $50 in taxes; you earn $1,000 and pay $125 in taxes.