If spending growth is 6% and inflation is also 6%, this means that:
What will be an ideal response?
real GDP did not increase
You might also like to view...
Should the IMF be abolished? Discuss
What will be an ideal response?
To say that stock prices follow a "random walk" is to argue that stock prices
A) rise, then fall, then rise again. B) rise, then fall in a predictable fashion. C) tend to follow trends. D) cannot be predicted based on past trends.
Answer the next question on the basis of the following five schedules, all of which represent income tax schedules for an economy. All figures are in billions of dollars.IIIIIIIVVTaxBase (Income)TaxBase (Income)TaxBase (Income)TaxBase (Income)TaxBase (Income)$30$100$10$100$5$100$30$100$10$10050200202001520060200302006030030300303009030060300704004040050400120400100400Which of the above schedules represent(s) a proportional tax?
A. II and IV B. IV only C. III and V D. I only
If the percentage change in price is 20 and the percentage change in quantity supplied is 10, supply is:
A. unaffected by price changes. B. inelastic. C. unit elastic. D. elastic.