Consider a system in which a person earning $10,000 pays $1,000 in taxes, a person earning $25,000 pays $2,000 . and someone earning $60,000 pays $4,000 . What type of tax is this?

A seller's willingness to accept is the same as his:

A) total cost of production. B) marginal cost of production. C) fixed cost of production. D) average cost of production.

If reserves in the banking system increase by $100, then checkable deposits will increase by $100 in the simple model of deposit creation when the required reserve ratio is

A) 0.01. B) 0.10. C) 0.20. D) 1.00.