(Figure: Demand and Supply of Gasoline) Look at the figure Demand and Supply of Gasoline. Given the initial equilibrium of S1 and D, any price lower than ________ will create pressure for the price to ________.

Consider the country of Outland. In Outland, people pay 10 percent of their income as a tax whether they earn $10,000 or $100,000 annually. Outland has ________ tax structure

A) a progressive B) a regressive C) a proportional D) an excessive

Suppose that Venezuela experiences significant capital outflows after a recent election. If the nation had fixed exchange rates, these flows would have had the following effect on the reserves account and monetary base

a. Reserves account would rise and monetary base would fall. b. Reserves account would not change and monetary base would fall. c. Reserves account would fall and monetary base would not change. d. Reserves account would fall and monetary base would fall. e. Reserves account would fall and monetary base would rise.