Modern U.S. commercial banks perform all of the following functions EXCEPT
A) accept checking deposits.
B) issue paper currency.
C) make loans to households and business firms.
D) accept savings deposits.
B
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A state that has a large pool of oil embedded in porous rock deep below its surface is
A. Kansas. B. Delaware. C. Florida. D. North Dakota.
If diminishing marginal returns have already set in for Golden Lark Woodworks, and the marginal product of the 6th carpenter is 8 chairs, then the marginal product of the 7th carpenter is
A) more than 8 chairs. B) zero. C) negative. D) less than 8 chairs.
When consumption and leisure are both normal goods, after an increase in real dividend income minus taxation, the rational consumer
A) increases consumption and increases leisure. B) increases consumption and reduces leisure. C) reduces consumption and increases leisure. D) reduces consumption and reduces leisure.
According to the Laffer Curve
a) Tax revenue always increases as tax rates rise b) Tax revenue always falls as tax rates rise c) Tax revenue initially rises with the tax rate but when tax rates get too high revenue begins to fall d) Tax revenue initially falls with the tax rate but when tax rates reach some optimal level revenue begins to rise e) Tax revenue is unrelated to the tax rate