The market-day supply curve is
a. horizontal, reflecting the fact that the quantity supplied can increase infinitely
b. vertical, reflecting the fact that the quantity supplied cannot change
c. increasing, reflecting the positive relationship between price and quantity
d. decreasing, reflecting the inverse relationship between price and quantity
e. flatter than the market demand curve
B
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Suppose a bank has $1,000 in deposits and $100 in reserves. If the desired reserve ratio is 5 percent, how much can this bank increase its loans?
A) $80 B) $0 C) $100 D) $400 E) $50
Assume that the government one day decides to tax greens fees at all state golf courses. To the government's dismay, not only was the amount of tax collected small, but there was a 90 percent decline in golfing
What type of tax analysis did the government apparently rely upon when it imposed this tax? A) static tax analysis B) dynamic tax analysis C) transaction cost analysis D) ad hoc tax analysis