Tariffs on non-agricultural goods are much higher in India than in China
Indicate whether the statement is true or false
FALSE
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High levels of inflation ________ the real value of money and, hence, ________ short-run equilibrium output.
A. reduce; increase B. increase; decrease C. increase; increase D. reduce; decrease
A firm's opportunity costs ________
A) equal the costs of resources it buys from others in the market B) include the cost of using resources owned by the firm C) increase when economies of scope exist D) do not include any opportunity costs for resources the owner suppliers
If, in a closed economy, real GDP is $30 billion, consumption is $20 billion, and government purchases are $5 billion, what is total saving in the economy?
A) $5 billion B) $15 billion C) $45 billion D) $55 billion
How can the U.S. federal government induce increases in the national saving rate?
A) by lowering the sales tax B) by levying taxes on individual retirement (IRA) accounts C) by reducing budget deficits D) all of the above E) none of the above