A decrease in individual income taxes ________ disposable income, which ________ consumption spending
A) decreases; increases B) increases; increases
C) increases; decreases D) decreases; decreases
B
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If a social planner were running a monopoly, that planner could achieve an efficient outcome by charging the price that is determined by the
a. minimum point on the average total cost curve. b. intersection of the average total cost curve and the demand curve. c. intersection of the marginal cost curve and the demand curve. d. intersection of the marginal cost curve and the marginal revenue curve.
Refer to Exhibit 16-5. If the economy is at point 6, and the natural unemployment rate exists at points 1, 4, and 5, it follows that Group of answer choices
A) Real GDP is greater than Natural Real GDP. B) Real GDP is less than Natural Real GDP. C) Real GDP is the same as Natural Real GDP. D) the economy is in a recessionary gap. E) b and d
Innovation refers to the introduction of new products and processes into the market.
Answer the following statement true (T) or false (F)
The lack of a universal productivity effect of higher education was demonstrated by the experience of
A. the United Kingdom. B. Ireland. C. France. D. the Soviet Union.