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According to the above figure, a shortage is shown between which two points?
Question 6 options:C and BA and BE and FA and ESave Question 7 (1 point) A decrease in demand and a decrease in supply will lead to a Question 7 options:decrease in quantity but the effect on price is indeterminate.decrease in price but the effect on quantity is indeterminate.decrease in price and an increase in quantity.decrease in price and a decrease in quantity.Save Question 8 (1 point) If the current price of a market basket of goods is $850 and the base year price for the same market basket is $500, what is the value of the price index? Question 8 options:100170140120Save Question 9 (1 point) The only way that a society can produce outside the production possibilities curve is Question 9 options:by producing efficiently.through economic growth.by obeying the Law of Increasing Relative Cost.to use the concept of opportunity cost.Save Question 10 (1 point) Suppose the tax rate on the first $10,000 income is 0; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $30,000; and 40 percent on any income over $80,000. Family A has income of $40,000 and Family B has income of $100,000. What is the marginal and average tax rate for each family? Question 10 options:Family A: marginal20 percent; average10 percent; Family B: marginal40 percent; average23 percent.Family A: marginal20 percent; average20 percent; Family B: marginal40 percent; average40 percent.Family A: marginal20 percent; average15 percent; Family B: marginal40 percent; average20 percent.Family A: marginal10 percent; average10 percent; Family B: marginal30 percent; average30 percent.Save Question 11 (1 point) The marginal tax rate is equal to Question 11 options:the change in the tax payment divided by the change in income.the average tax payment divided by the total tax payment.the percent of total income that goes to taxes.the total tax payment divided by total income.Save Question 12 (1 point) One solution to the Social Security problem cited in the text is to Question 12 options:increase the payment to retirees.reduce the payments to retirees.lower the Social Security tax percentage.let the Federal Reserve run the program.Save Question 13 (1 point) Social Security taxes are regressive because Question 13 options:they apply only to rich people.they are applied to retired people only.they are not applied to income beyond a certain amount.they are applied to welfare recipients.Save Question 14 (4 points) Question 14 options:Assume an open, mixed economy (C + I + G + X = real GDP) and an MPS of .2 What is the multiplier? If government spending (G) increases by $50B, how much will real GDP increase? If taxes also increase by $50B, consumption (C) will fall by how much? The result will be a $200B decline in real GDP. Was this policy of increasing government spending and taxes by the same amount expansionary, contractionary, or ineffective? Save Question 15 (1 point) The U.S. fiduciary monetary system Question 15 options:puts capital controls in place.is one where money is not convertible to a fixed quantity of gold.controls the private banking system.is the one agency responsible for providing coins and paper currency.Save Question 16 (1 point)
Refer to the above table. The value of M1 is
Question 16 options:$1,360 billion.$2,560 billion.$910 billion.$860 billion.Save Question 17 (1 point) Possession of information by one party in a financial transaction but not by the other party is Question 17 options:financial intermediation.moral hazard.asymmetric information.adverse selection.Save Question 18 (1 point) The Federal Reserve bank is managed by Question 18 options:one person elected in the same election that decides the presidency of the U.S.the Board of Governors composed of seven members appointed by the president.the Board of Trustees composed of a member from each district bank.the Board of Directors composed of a member from each district bank.Save Question 19 (1 point) As a “lender of last resort” the Fed Question 19 options:protects the deposits of $100,000 or less in all commercial banks in the country.bails out any depository institution it has decided should not be allowed to fail.bails out any corporation the government has decided should not fail.is obligated to bail out any depository institution in the country that is in financial difficulty.Save Question 20 (1 point)
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