A higher price level would mean ____ for a person who has a bank deposit of $2 million.
A. an increase in real income
B. a decrease in real wealth
C. a decrease in nominal income
D. an increase in nominal income
Answer: B
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If real salaries increase but nominal salaries do not, this means that
A) the purchasing power of money has decreased. B) prices have risen. C) prices have not changed. D) prices have fallen.
Commonwealth Edison is the only provider of electricity to many households in the Chicago area. Commonwealth Edison is regulated by the government. This type of regulation is known as
A) the Federal Register. B) social regulation. C) the market share test. D) economic regulation.
Which tax system requires all taxpayers to pay the same percentage of their income in taxes?
a. a regressive tax b. a proportional tax c. a progressive tax d. a horizontal equity tax
Smaller budget deficits and looser monetary policy lead to a larger investment share and faster growth.
Answer the following statement true (T) or false (F)