The United States is divided into ___ Federal Reserve districts
A. 14
B. 12
C. 8
Ans: B. 12
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The earned income tax credit (or EITC):
A. reduces the sales tax paid by low-income workers. B. provides tax credits to firms who hire low-income workers. C. gives low-income workers credits on their federal income taxes. D. reduces the tax rate on investment income.
The labor ____________ curve(s) will shift _______________ if there is an increase in productivity or an increase in the demand for the final product.
a. demand; left b. supply; left c. demand; right d. supply; right
The multiple by which the commercial banking system can expand the supply of money is equal to the reciprocal of:
A. its excess reserves. B. the interest rate. C. its actual reserves. D. the reserve ratio.
Which of the following is an example of spending on goods and services in the circular flow model?
A) Belinda purchases a new computer for her tax-preparation business. B) Javier buys 800 square feet of wood flooring for his vacation home. C) Celeste buys fresh herbs at the farmers' market to use in her restaurant. D) Timmy purchases a new examination table for use in his veterinary clinic.