Exhibit 14A-2 Macro AD-AS Model
In Exhibit 14A-2, the long-run aggregate supply curve represents:
A. potential real GDP output for this economy.
B. that the economy is experiencing zero inflation.
C. that the economy is experiencing technological change.
D. the level of real GDP where the unemployment rate is zero.
Answer: A
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If the real GDP of a developed country doubles in 48 years, the average annual growth rate in real GDP must be _____
a. 1.5% b. 3.5% c. 0.67% d. 0.012% e. 24%
The law of supply says that
a. supply and income are inversely related b. supply follows demand c. quantity supplied equals quantity demanded d. price and quantity supplied are inversely related e. price and quantity supplied are directly related
Contractionary fiscal
What will be an ideal response?
The ________ approach to corporate taxation is considered double taxation.
A) separate entity B) integrated system C) capital gains D) value-added