Improvements in productivity shift the aggregate supply curve outward.
Answer the following statement true (T) or false (F)
True
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Some politicians have recently suggested changing the income tax system in the U.S. to a flat tax system where all taxpayers would pay the same percentage of their income in tax to the federal government
Explain how such a change can be analyzed in terms of efficiency. Do you believe that this tax will have equity effects as well?
Rich country to poor country migration is relatively uncommon
Indicate whether the statement is true or false
From 1980 to 1985 the dollar appreciated relative to the British pound. Holding everything else constant, one would expect that, when compared to 1980
A) fewer Britons traveled to the United States in 1985. B) Britons imported more wine from California in 1985. C) Americans exported more wheat to England in 1985. D) more Britons traveled to the United States in 1985.
Which statement about money is true?
a. To qualify as money, currency must be officially recognized by a government. b. Aside from precious metals, commodities cannot be considered money. c. The term money refers to metallic coins and paper currency legally designated by some institution. d. As long as it is generally accepted in exchange for services and goods, anything can be money.