Since World War II, the percentage of U.S. workers who are unionized has declined from about 86 percent to its current level of 60 percent
a. True
b. False
Indicate whether the statement is true or false
False
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Income taxes are taxes paid on wages and investment income
Indicate whether the statement is true or false
How do lower taxes affect aggregate demand?
A) They increase disposable income, consumption, and aggregate demand. B) They increase aggregate supply and thus increase aggregate demand as well. C) they increase corporate investment and aggregate demand. D) They reduce disposable income, consumption, and aggregate demand.
If European incomes rose, European tariffs on U.S. goods decreased, or their tastes for American goods increased, Europeans would demand ____ U.S. goods, leading them to ____ their supply of euros to obtain the added dollars necessary to make those purchases. a. more; increase
b. more; decrease. c. fewer; increase. d. fewer; decrease.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the long run would be:
A. P2 and Y2. B. P1 and Y2. C. P4 and Y2. D. P1 and Y1.