If the GDP deflator next year is less than the GDP deflator this year, then the price level has fallen.
Answer the following statement true (T) or false (F)
True
You might also like to view...
The imposition of an excise tax on a product will shift that product's ________ curve vertically by the exact amount of the tax. This represents ________.
A. supply; a decrease in supply. B. ?demand; a decrease in demand. C. ?supply; an increase in supply. D. ?demand; an increase in demand.
State the Coase theorem
What will be an ideal response?
A public highway looks like a collective consumption good because there is very little traffic on it and zero congestion. Hence the marginal cost of an additional car is zero
Which of the following statements best describes why we should not assume that the road would always be a collective consumption good? a. The lack of congestion could be the result of government overproduction. b. The lack of congestion could be because of its low speed limit. c. The lack of congestion could be because of excessive police ticketing. d. The lack of congestion is because of the lower cost of alternative means of travel.
Which of the following would NOT be a reason for a shift in the labor demand curve?
A) a change in demand for the final product B) a change in labor productivity C) a change in the market wage rate D) a change in the price of a related input