The two types of taxes that are most important to state and local governments as sources of revenue are
a. individual income taxes and corporate income taxes.
b. sales taxes and individual income taxes.
c. sales taxes and property taxes.
d. social insurance taxes and property taxes.
c
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The Federal Reserve System provides banking services to ________ because ________
A) consumers and businesses; it is a central bank with responsibilities to the entire U.S. population B) banks and businesses; it is a central bank with the primary purpose of regulating financial institutions and markets C) commercial banks; it is a central bank with the primary purpose of regulating financial institutions and markets D) no one; it is a central bank with the primary purpose of regulating financial markets E) FDIC insured banks; they are the ones that have paid their membership fees and the only ones the U.S. central bank guarantees
When the Fed buys bonds in the open market, in the product market (the aggregate demand- aggregate supply model),
A) real GDP will fall and the price level will rise. B) real GDP and the price level will rise. C) real GDP and the price level will fall. D) real GDP will rise and the price level will fall.