According to this Application, some conservatives worry that a value-added tax ________ and some liberals worry that a value-added tax ________
A) will penalize high-income individuals; will decrease per-capita GDP
B) will discourage consumers from saving; will decrease federal tax revenue
C) will result in consumers not realizing all the taxes they pay; is regressive
D) is progressive; will reduce investment.
C
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Opportunity cost is illustrated in a production possibilities frontier (PPF) by a movement
A) from the region within the PPF to a point on the PPF. B) from the region within the PPF to the region outside of the PPF. C) from the region outside of the PPF to a point on the PPF. D) along the PPF where to gain more of one good it is necessary to give some of another good.
If the legal reserve requirement is 10 percent, $1,000 cash deposited into a demand deposit account will generate, assuming willing borrowers, an increase in the money supply of
a. $900 b. $1,100 c. $9,000 d. $10,000 e. $11,000