What is the typical role of a central bank?
A) It serves as a lender of last resort. B) It serves as a bank for the national treasury.
C) It regulates depository institutions. D) all of the above
D
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Many environmentalists have advocated a substantial increase in the gasoline tax to cut down the federal deficit and to reduce pollution due to auto emissions. Such a tax increase would be devastating to people who commute significant distances to work. In fact, it would provide an incentive to relocate closer to work or change jobs. Economists refer to such effects of taxes as the
a. burden of a tax. b. regressive incidence of a tax. c. incidence of a tax. d. excess burden of a tax.
Aggregate demand ________ and shifts the AD curve ________ when ________.
A. increases; leftward; taxes increase B. increases; rightward; foreign incomes increase C. increases; rightward; government expenditure increases D. increases; rightward; taxes increase E. decreases; leftward; the price level rises