The Federal Reserve has estimated that over ______ of all the U.S. currency being printed ends up being used as unofficial legal tender abroad.
A. one-fourth
B. one-third
C. one-half
D. two-thirds
D. two-thirds
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The value of an object on which a tax is levied is known as the
a. tax rate. b. tax impact. c. tax base. d. tax incidence.
The equation specifying the relationship between the money supply and the price level is
a. P = MV/Q b. P = MQ/V c. P = MV/M d. P = Q/MV e. P = Q/(M + V)
If a supply curve is horizontal, then supply is said to be perfectly elastic, and the price elasticity of supply approaches infinity
a. True b. False Indicate whether the statement is true or false
Peter was recently hired as a salesman for a national consulting firm. His job involves spending a significant portion of his time out of the office visiting prospects and attending conferences. Which of the following is a strategy the consulting firm may employ to discourage Peter from shirking his responsibilities?
a. Tell Peter that the shareholders want to earn a large profit this year. b. Stop paying Peter bonuses based on how much he's sold. c. Allow Peter to set his own schedule and work from home frequently. d. Pay Peter an above-equilibrium wage.