Disinflation is defined as a
a. zero rate of inflation.
b. constant rate of inflation.
c. reduction in the rate of inflation.
d. negative rate of inflation.
c
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Institutions are:
a. the rules of the game b. how resources are allocated c. illustrations of the laws of scarcity d. organizations that operate on a non-profit basis e. none of the above
How is interest measured when used in deriving GDP plus non-intome expense iterms, such as indirect businesses and depreciation?
What will be an ideal response?
If tax rates are raised to avoid a deficit during a recession, then
a. real GDP and deadweight loss from taxes will rise. b. real GDP will rise and deadweight loss from taxes will fall. c. real GDP will fall and deadweight loss from taxes will rise. d. real GDP and deadweight loss from taxes will fall.
The short-run aggregate supply curve is:
A. Vertical at all levels of output. B. Horizontal at all levels of output. C. Downward sloping to the right. D. Upward sloping to the right.