In Exhibit 11 the expansion phase of the business cycle is represented by points
a. A and C.
b. B and F.
c. B and D.
d. C and G.
Ans: b. B and F.
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When the Fed purchases artwork to decorate the conference room at the Federal Reserve Bank of Kansas City
A) reserves rise, but the monetary base falls. B) reserves fall. C) currency in circulation falls. D) the monetary base rises.
If a corporation pays a dividend, which group receives priority in receiving the dividend?
A) bond holders B) holders of common stock C) holders of preferred stock D) dividends are evenly divided by holders of common and preferred stock
The administrative burden of taxes is:
A. smallest with a lump-sum tax. B. the same if the revenue generated is the same for any kind of tax. C. smaller the larger the amount of the tax. D. the same across all types of taxes.
Investment in
a. physical capital, unlike investment in human capital, has an opportunity cost. b. physical capital, like investment in human capital, has an opportunity cost. c. human capital is particularly attractive because it involves no externalities. d. human capital has been shown to be relatively unimportant, relative to investment in physical capital, for a country's long-run economic success.