Imposing a tariff on the import of a good is preferable to a quota because a tariff produces revenue for the government, while a quota never produces any revenue for a government

Comment on the following statement: "Diminishing marginal utility means that total utility falls when an additional unit of a good is consumed."

What will be an ideal response?

If the Fed reduces the required reserve ratio, how will this affect excess reserves and the money supply?

a. Both will increase. b. Excess reserves increase and the money supply decreases. c. Both will decrease. d. Excess reserves decrease and the money supply increases.