A report on GDP says that income fell. Then spending measured by GDP __.

"Only in a progressive tax system does the amount of taxes increase as income increases." Do you agree or disagree? Explain

What will be an ideal response?

In the money and credit expansion process, the total change in checkable deposits is equal to the initial change in excess reserves _____

a. multiplied by the required reserve ratio b. plus the change in required reserves c. divided by the reciprocal of the required reserve ratio d. multiplied by the reciprocal of the required reserve ratio e. divided by the change in required reserves