The aggregate demand curve shifts rightward if there is...
a) an increase in tax rates
b) a decreases in government expenditure
c) an increase in the federal budget surplus
d) an increase in government expenditure
d) an increase in government expenditure
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Which of the following would show the LEAST amount of inequality?
A) Measured annual income. B) Measured annual wealth. C) Lifetime income. D) Measured annual income and annual wealth are equally distributed and are more equally distributed than lifetime wealth.
A Swiss watch company advertises its history of superior craftsmanship. The company thinks that this will
a. Make the demand for the product more elastic b. Make the customers more sensitive to the price c. Not impact the demand for their product d. None of the above
An example of a flow variable is
a. the number of cars in the United States today b. the current value of your wealth c. the population of Mexico d. income e. the number of sweaters a clothing store has on its shelves
A firm in a monopolistically competitive market can earn short-run profits but not long-run profits
a. True b. False Indicate whether the statement is true or false