Suppose a developing country receives more machinery and capital equipment as foreign entrepreneurs increase the amount of investment in the economy. As a result,
A) the economy will move down along the long-run aggregate supply curve.
B) the economy will move up along the long-run aggregate supply curve.
C) the long-run aggregate supply curve will shift to the right.
D) the long-run aggregate supply curve will shift to the left.
C
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Inflation is measured
A) as the percentage change in the consumer price index. B) as the percentage change in real GDP. C) using the level of real GDP. D) using the level of the consumer price index.
Tax increases used to fund a new school will always lower housing values in a community
a. True b. False
Relative prices describe the terms at which individual goods are exchanged for one another
a. True b. False Indicate whether the statement is true or false
The age-earnings cycle is
A. the relationship between earnings while working and retirement benefits for an individual. B. the distribution of money income by age. C. the regular earnings profile of an individual throughout his or her lifetime. D. the distribution of wealth by age.