When a currency depreciates relative to other currencies as a result of government action, it has been __________.
Fill in the blank(s) with the appropriate word(s).
devalued
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It is easier to avoid state and local taxes than federal taxes.
A. True B. False C. Uncertain
Which of the following is a reason why job A would pay a higher wage rate than job B?
a. job B requires more education b. job A offers greater fringe benefits c. job A offers free parking d. job A involves greater risk e. job B has a higher skill requirement
The U.S. imposes substantial taxes on cigarettes but not on loose tobacco. When the tax on cigarettes went into effect, the demand for home cigarette rolling machines most likely:
A. increased, causing the price of cigarette rolling machines to rise and the quantity of machines purchased to rise. B. increased, causing the price of cigarette rolling machines to rise and the quantity of machines purchased to fall. C. decreased, causing the price of cigarette rolling machines to fall and the quantity of machines purchased to fall. D. decreased, causing the price of cigarette rolling machines to rise and the quantity of machines purchased to fall.
Suppose the Chinese yuan increases in its value relative to the U.S. dollar. In the U.S. economy,
A. the price level will fall and real GDP will increase if the increase in aggregate supply is greater than the decrease in aggregate demand. B. the price level will fall and real GDP will decrease if the decrease in aggregate demand is less than the increase in aggregate supply. C. the price level will increase and real GDP will fall if the increase in aggregate demand is less than the decrease in aggregate supply. D. the price level will increase and real GDP will fall if the decrease in aggregate demand is more than the increase in aggregate supply.