According to the textbook, if the government had taxed everyone who earned more than $1 million an income tax rate of 100 percent in 2012, the budget deficit for that year would have been completely eliminated
Indicate whether the statement is true or false
False
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In years of economic contraction, firms throughout the economy increase their production of goods and services, employment rises, and jobs are easy to find
a. True b. False Indicate whether the statement is true or false
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Indirect finance includes the sale by a corporation of stocks or bonds, as well as borrowing money from a bank
Indicate whether the statement is true or false
Any event that decreases the value of the marginal product of labor will:
A. increase labor supply. B. decrease labor supply. C. increase labor demand. D. decrease labor demand.