Payroll taxes are actually regressive taxes
a. True
b. False
Indicate whether the statement is true or false
True
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Because a decrease in real autonomous spending results in a ________ in the price level, the ultimate effect on real GDP is ________ than predicted by the multiplier
A) fall; larger B) fall, smaller C) rise; smaller D) fall; smaller
An economy is an organization that produces goods and services and then allocates those goods and services to its members
Indicate whether the statement is true or false
In the long run, a rise in a country's price level (relative to the foreign price level) causes its currency to ________, while a fall in the country's relative price level causes its currency to ________
A) appreciate; appreciate B) appreciate; depreciate C) depreciate; appreciate D) depreciate; depreciate
Suppose the official gold value of the Brazilian real changes from 457 reals per ounce to 528 reals per ounce. We can then say that:
a. the Brazilian real has been devalued. b. the Brazilian economy is expected to experience rapid inflation. c. gold has been devalued. d. the Brazilian real has appreciated in value. e. gold is now cheaper to purchase in Brazil than it was before.