Refer to the information provided in Table 19.4 below to answer the question(s) that follow.Table 19.4Total IncomeTotal Taxes$10,000 $1,000 20,000 2,400 30,000 4,500 40,000 8,000Related to the Economics in Practice on page 393: Refer to Table 19.4. At an income level of $10,000, the average tax rate is
A. 1%.
B. 5%.
C. 10%.
D. 20%.
Answer: C
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What will be an ideal response?
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If the Fed were to impose a slight increase in the required reserves ratio, there would be _____.
(A) No change in the money supply. (B) An increase, then a decrease, in the money supply. (C) An increase in the money supply. (D) A decrease in the money supply.