The Fed sells $300 million U.S. government securities to commercial banks. This action leads to ________ in Fed assets and ________ in Fed liabilities
A) a $300 million increase; a $300 million increase
B) a $300 million increase; a $300 million decrease
C) no change; no change
D) a $300 million decrease; a $300 million decrease in
E) a $300 million decrease; a $300 million increase
D
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In 2007 the total amount of tax collection the federal government brought to the Treasury from all sources was $2.7 Trillion. The population of the U.S. is about 300 million
Assume that all forms of government taxation were abolished and each citizen was required to pay exactly the same as everyone else. What would be the tax burden in dollar terms on each citizen (man, women and child)? How would you characterize a tax system like this? Who would likely protest the most? Who would benefit the most? If the new tax was not repealed, what changes do you believe would take place in the government's budget?
Answer the following statement true (T) or false (F)
1) The demand for labor is a derived demand, whereas the demand for capital is not. 2) The MRP of labor curve is the firm's labor demand curve. 3) Marginal revenue product (MRP) is the change in total product (total output) associated with hiring an additional unit of labor. 4) A firm should reduce its employment of a resource whose marginal resource cost exceeds its marginal revenue product.