The Fed primarily uses the reserve requirement to control the money supply
a. True
b. False
Indicate whether the statement is true or false
False
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Cigarette taxes are viewed as _____
a. regressive b. progressive c. proportional d. non-distortionary
Economists normally assume that the goal of a firm is to (i) sell as much of its product as possible. (ii) set the price of the product as high as possible. (iii) maximize profit
a. (i) and (ii) only b. (ii) and (iii) only c. (iii) only d. (i), (ii), and (iii)
A recurring theme in economics is that people:
A. Have unlimited resources, but limited economic wants B. Can increase resources by limiting their economic wants C. Have limited economic wants and limited resources D. Have unlimited economic wants, but limited resources
The transactions demand for money refers to
A. the desire for income. B. the desire for wealth. C. the demand to hold money as a long-term store of value. D. the demand to hold money for use in planned purchases.