The top 1% of households in the United States: a contribute more than 75% but less than 90% of all federal income tax revenues. b contribute nearly 40% of all federal income tax revenues. c contribute more than 50% but less than 75% of all federal income tax revenues. d contribute no federal income tax revenues become of tax loopholes. e contribute more than 90% of all federal income tax revenues.

Explain whether each of the following events increases or decreases the money supply. a. the fed buys bonds in open-market operations. b. the fed reduces the reserve requirement. c. the fed increases the interest rate it pays on reserves. d. citibank repays a loan it had previously taken from the fed. e. after a rash of pickpocketing, people decide to hold less currency. f. fearful of bank runs, bankers decide to hold more excess reserves. g. the fomc increases its target for the federal funds rate.