Answer the question based on the following table, which shows a demand schedule.
What will be an ideal response?
Total revenues will decrease if price rises from
$4 to $5.
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Given the accelerationist Phillips curve ?? = - 0.7 (U - 5 ) + ?, suppose that inflation has increased from 8 percent to 10 percent. If the unemployment rate is 4 percent, then the price shock is ________
A) 2.7 percent B) 0.6 percent C) 1.3 percent D) 1 percent E) none of the above
Which of the following statements is correct regarding the imposition of a tax on gasoline?
a. The incidence of the tax depends upon whether the buyers or the sellers are required to remit tax payments to the government. b. The incidence of the tax depends upon the price elasticities of demand and supply. c. The amount of tax revenue raised by the tax depends upon whether the buyers or the sellers are required to remit tax payments to the government. d. The amount of tax revenue raised by the tax does not depend upon the amount of the tax per unit.
In the Interstate Baking case discussed in this? chapter, scanner data showed that the products of Interstate and Continental Baking were close substitutes ?, so a merger would lead to higher prices .
In the Interstate Baking case discussed in this? chapter, scanner data showed that the products of Interstate and Continental Baking were
?, so a merger would lead to higher
The effect of government spending or tax cuts on national income is measured by the:
A. aggregator. B. output gap. C. multiplier. D. tax rate.