________ argued for a tax on consumption instead of on income because a tax on income discourages saving by taxing savings twice.
A. Irving Fisher
B. John Rawls
C. Thomas Hobbes
D. Bill Clinton
Answer: A
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What effect did the decrease in the value of the dollar have on the U.S. trade deficit in the period from 2006 to 2009?
A. It decreased the trade deficit as Americans bought more U.S. capital goods. B. It decreased the trade deficit as foreigners were attracted to the increased value of U.S. products and Americans bought fewer imports. C. It increased the trade deficit as U.S. investors bought more domestic financial assets. D. It increased the trade deficit as Americans bought more imports and foreigners bought fewer U.S. products.
All else constant, there is an inverse relationship between the price elasticity of demand and the marginal revenue resulting from a decrease in price
Indicate whether the statement is true or false
If you were looking at the economy of Egypt, the best example of its economic infrastructure would be its
a. natural resources b. banking system c. government d. religious and cultural beliefs e. population growth rate
Suppose the banking system currently has 300 billion in reserves that the reserve requirement is 10%, and that $3 billion of the reserves are excess reserves that will not be lent out. What is the value of deposits?
A. $3300 billion B. $2970 billion C. $2673 billion