In the determination of production of goods or services with respect to GDP, transfer payments are included.
Answer the following statement true (T) or false (F)
False
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Supply-side economists argue that decreasing marginal tax rates
A) increases productivity and shifts the AS curve to the right. B) increases productivity and shifts the AS curve to the left. C) increases productivity and shifts the AD curve to the left. D) due to the Ricardian equivalence, has no impact on the economy.
Forward guidance refers to central banks
A) setting long-term interest rates. B) engaging in monetary policy to offset the negative side-effects of the government's fiscal policies. C) telling the public what future monetary policy will be. D) simultaneously reducing unemployment and inflation.
Which of the following is NOT a stage of development that modern rich nations have gone through?
A) service stage B) agricultural stage C) manufacturing stage D) inflation stage
One of the strengths of a socialist economy, according to those who advocate such a system, is that government intervention will enable a more equitable distribution of income and therefore goods and services produced
a. True b. False Indicate whether the statement is true or false