The U.S. banking system is considered to be a dual system because
A) banks offer both checking and savings accounts.
B) it actually includes both banks and thrift institutions.
C) it is regulated by both state and federal governments.
D) it was established before the Civil War, requiring separate regulatory bodies for the North and South.
C
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If giving to public goods is subsidized through deductions under a progressive income tax, the government subsidizes public goods consumed by higher income individuals at greater rates than public goods consumed by lower income individuals.
Answer the following statement true (T) or false (F)
The government can use taxes to
A) change production in a market with an external cost to the efficient amount. B) change production in a market with an external benefit to the efficient amount. C) increase production. D) decrease price.
If a 1 percent change in income generates a greater than 1 percent change in quantity demanded of boating expenditures, then boating is an:
a. example of Engel's law. b. inferior good. c. income inelastic good. d. income elastic good. e. example of a substitute good.
Sketch graph a standard short-run production functions, and identify on it the points where the average product peaks, the marginal product peaks, the marginal product reaches zero, and the average and marginal product intersect.
What will be an ideal response?