Which of the following statements is false?
A. Disinflation generally occurs during recessions.
B. If the CPI rose from 100 to 500, the price level rose by 500 percent.
C. If our economy is at full employment, the cyclical rate of unemployment would be zero percent.
D. During business cycles, troughs are followed by recoveries.
B. If the CPI rose from 100 to 500, the price level rose by 500 percent.
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The Trans-Pacific Partnership (TPP) would ________ tariffs on most goods and services shipped between partnership countries and also ________ so-called non-tariff barriers to trade, such the licenses governments require to import some goods
A) lower; raise B) raise; raise C) eliminate; reduce D) lower; eliminate
Suppose there are four industries. Labor costs are 20 percent of total costs in A, 40 percent in B, 60 percent in C, and 80 percent in D
A ten percent increase in the price of labor will cause industry ________ to reduce quantity demanded of labor by the largest proportion. A) A B) B C) C D) D
Which of the following taxes is most likely to be shifted?
A. A general sales tax. B. A flat-rate state income tax. C. A progressive federal income tax. D. A property tax on an owner-occupied residence.
The slope of a straight line is not constant unless the line is vertical or horizontal.
Answer the following statement true (T) or false (F)