The federal personal income tax is _____ progressive than it was in 1980.

Which of the following isnot a reason why the aggregate-demand curve slopes downward?

A. the interest-rate effect B. All of these answers are reasons why the aggregate-demand curve slopes downward. C. the wealth effect D. the exchange-rate effect E. the classical dichotomy/monetary neutrality effects

Suppose a bank has $50,000 in deposits and $6,000 in reserves. The required reserve ratio is 10%. Which of the following occurs if the required reserve ratio is increased to 12%?

A) The bank's total reserves will fall. B) The bank will now be fully loaned up. C) The bank will have insufficient required reserves. D) The bank's profit will fall.