Economists have shown that the burden of a tax is
A) greater on the buyer when the tax is collected from the seller and greater on the seller when the tax is collected from the buyer.
B) the same whether the tax is collected from the buyer or the seller.
C) greater on the buyer when the tax is collected from the buyer.
D) greater on the seller when the tax is collected from the seller.
B
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If a country's nominal interest rate is zero, then
A) the country's economy is in a liquidity trap. B) exchange rates with other countries are likely to decline. C) exchange rates with other countries are likely to increase. D) monetary policy is likely to be very effective in stimulating the economy. E) the country's economy has achieved monetary equilibrium.
The Fed's holdings of securities consist primarily of ________, but also in the past have included ________
A) Treasury securities; bankers' acceptances B) municipal securities; bankers' acceptances C) bankers' acceptances; Treasury securities D) Treasury securities; municipal securities