Refer to Figure 13.1. All else equal, an increase in corporate taxes would best be represented by a movement from
A) point A to point B.
B) point B to point A.
C) point B to point C.
D) point C to point B.
A
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When OPEC raised the price of oil in 2000 (gasoline prices were $2 per gallon), it contributed to
a. demand-pull inflation b. cost-push inflation c. demand-push inflation d. cost-pull inflation e. cost-push deflation
In 2009, the Social Security System ran a surplus of approximately $137 billion
a. True b. False Indicate whether the statement is true or false
The change in nominal GDP will always exceed the change in real GDP when nominal GDP is
a. increasing and prices are unchanged. b. increasing and prices are decreasing. c. decreasing and prices are decreasing. d. increasing and prices are increasing.
For most students, the largest single cost of a college education is
a. the wages given up to attend school. b. tuition, fees, and books. c. room and board. d. transportation, parking, and entertainment.