In the 1980s and 1990s, average per capita income increased by a greater percentage in sub-Saharan Africa than it did in the rest of the world
Indicate whether the statement is true or false
FALSE
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The oligopoly dilemma is whether to ________
A. act together to restrict output and raise the price B. raise the price to the monopoly profit-maximizing price C. cheat on others in the cartel to take advantage of profit opportunities D. lower the price to the perfectly competitive price
Suppose the federal government increases the unemployment benefits financed by higher income taxes. In this case, which of the following is likely to occur?
a. An increase in the equilibrium real GDP b. A redistribution of disposable income from the employed to the unemployed c. An increase in the interest rate d. An increase in the discount rate charged by the Central Bank e. An increase in the income of the rich and a decrease in the income of the poor
Define the types of principles of taxation, and illustrate with examples the different types of existing tax systems based on these principles
When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline