During the Great Depression in the United States between 1929 and 1933, banks' reserve/deposit ratio ________ and the amount of currency held by the public ________, while the money supply ________.
A. decreased; decreased; increased
B. increased; increased; decreased
C. decreased; decreased; decreased
D. increased; increased; increased
Answer: B
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Suppose you are paid a wage of $50 per hour. if your marginal income tax rate is 20%, then for every additional hour you work, your tax wedge is
A) $10. B) $20. C) $25. D) $40.
Scarcity means that there is less of a good or resource available than people wish to have
a. True b. False Indicate whether the statement is true or false
Technological improvements in coal mining will
A) increase the price of coal. B) decrease the price of coal. C) increase the interest rate. D) decrease the interest rate.
If the Fed tries to prevent the U.S. dollar exchange rate from rising, the Fed ________ U.S. dollars, ________ foreign currency, and U.S. official reserves ________
A) sells; buys; decrease B) sells; sells; increase C) buys; buys; increase D) sells, buys; increase E) buys; sells; increase