When taxes paid by a check are deposited in tax and loan accounts,
A) bank reserves and the money supply are unaffected.
B) bank reserves fall but the money supply is unaffected.
C) bank reserves are unaffected but the money supply falls.
D) bank reserves and the money supply fall.
C
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The NBER describes a recession as
A) "a decrease in the standard of living for at least one year." B) "a decrease in potential GDP for at least six months." C) "a one year period with increases in the unemployment rate." D) "a period of significant decline in total output, income, employment, and trade, usually lasting from six months to a year." E) "a decrease in real GDP for two successive quarters."
If the individuals in a group of consumers have identical tastes, then the group can be treated as if it behaved as a singe representative consumer.
Answer the following statement true (T) or false (F)
Advances in statistical software is an example of:
A) skill-biased technological changes. B) labor-saving technological changes. C) unskilled-biased technological changes. D) labor-complementary technological changes.
As you move rightward on a marginal cost of abatement curve, emissions are
A) falling, and the cost of eliminating the marginal unit falls. B) rising, and the cost of eliminating the marginal unit falls. C) falling, and the cost of eliminating the marginal unit rises. D) rising, and the cost of eliminating the marginal unit rises. E) rising, and the cost of eliminating the marginal unit is constant.