The curve showing the amount of real output, or real GDP, that will be made available by sellers at various price levels is called the
A. aggregate demand curve.
B. real gross domestic investment curve.
C. aggregate supply curve.
D. Keynesian cross.
C. aggregate supply curve.
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Indicate whether the statement is true or false
A tax is more likely to promote economic equality if it is
a. regressive. b. proportional. c. indirect. d. progressive.
Tara deposits money into an account with a nominal interest rate of 6 percent. She expects inflation to be 2 percent. Her tax rate is 20 percent. Tara's after-tax real rate of interest
a. will be 2.8 percent if inflation turns out to be 2 percent; it will be higher if inflation turns out to be higher than 2 percent. b. will be 2.8 percent if inflation turns out to be 2 percent; it will be lower if inflation turns out to be higher than 2 percent. c. will be 3.2 percent if inflation turns out to be 2 percent; it will be higher if inflation turns out to be higher than 2 percent. d. will be 3.2 percent if inflation turns out to be 2 percent; it will be lower if inflation turns out to be higher than 2 percent.
In general, supply curves slope upward because:
A. the government requires that more units be produced. B. rising prices provide producers with a greater profit incentive. C. consumers buy a greater quantity. D. technology improves the ability of firms to produce more at each possible price.