Reserves that banks are required by law to keep on hand to back up their deposits are called
a. required reserves.
b. borrowed reserves.
c. actual reserves.
d. excess reserves.
A
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In the factor market, households
A) sell resources. B) are both buyers and sellers of resources. C) are neither buyers nor sellers of resources. D) buy resources.
The principle of horizontal equity is satisfied when _____
a. individuals receiving the same benefits end up paying the same in taxes b. the public interest is being met c. all individuals pay the same tax d. individuals with an equal ability to pay end up paying the same in taxes
The economist that gave us the proposition that "supply creates its own demand" was
a. Adam Smith b. Jean Baptiste Say c. Marc Lieberman d. John Maynard Keynes e. Robert Hall
Maximum Feasible Hourly Production Rates of EitherProduct A or Product B Using All Available ResourcesProductCountry XCountry YA48B44 Refer to the above table. Assuming constant opportunity costs
A. both countries will be willing to engage in trade at a rate of exchange of 3 units of product A for 1 unit of product B. B. both countries will be willing to engage in trade at a rate of exchange of 1.5 unit of product A for 1 unit of product B. C. both countries will be willing to engage in trade at a rate of exchange of 0.3 unit of product A for 1 unit of product B. D. neither country will be willing to engage in trade at any rate of exchange of product A for product B.