Financial innovations such as ATMs and electronic banking have caused an increase in the demand for money
Indicate whether the statement is true or false
FALSE
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Governments seeking to maximize total tax revenue will place unit taxes on goods with the
a. b and c b. lowest income elasticity c. highest cross elasticity d. lowest price elasticity e. fewest complements
In the late 13th century, Chinese money consisted of
a) stones b) tobacco c) beads made of sea shells d) paper e) gold
A problem(s) with fiscal policy is that
a. it takes a long time for Congress to recognize that an economic problem exists b. interest rates will increase if the money supply increases too rapidly c. trade wars may erupt once tariffs and quotas are implemented d. all
Exhibit 4-2 Supply and demand curves
Beginning from an equilibrium at point E1 in Exhibit 4-2, an increase in demand for good X, other things being equal, would move the equilibrium point to:
A. E1, no change. B. E2. C. E3. D. E4.