Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. 
Figure 19.1 Refer to Figure 19.1. The ________ from this payroll tax are $3,500.
A. total cost to employers
B. total cost to workers
C. total wage saving
D. total tax collections
Answer: D
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If the economy's real GDP is growing at 3 percent each year and velocity is constant, for the price level to increase:
a. the money supply would have to grow at more than 3 percent per year. b. the money supply would have to grow at exactly 3 percent per year. c. the money supply would have to grow at less than 3 percent per year. d. the money supply would have to remain stable.
Between October 2014 and October 2015, the CPI in Canada rose from 120 to 124 and the CPI in Mexico rose from 210 to 229.1 . What were the inflation rates for Canada and Mexico over this one-year period?
a. 3.3 percent for Canada and 9.1 percent for Mexico b. 3.3 percent for Canada and 8.3 percent for Mexico c. 3.2 percent for Canada and 9.1 percent for Mexico d. 3.2 percent for Canada and 8.3 percent for Mexico
If a one percent increase in the population leads to a five percent increase in the quantity sold, an economist would claim
A) the good is elastic with respect to population. B) the good is inelastic with respect to population. C) the good is a fad. D) consumers are misinformed about the quality of the product.
An increase in ________ in an open economy of any size leads to ________
A) desired saving; an increase in net capital outflows B) desired investment; a decrease in net capital outflows C) desired saving; an increase in the trade balance D) all of the above E) none of the above