If the price of inputs rises and personal income taxes rise:
a. Price index rises, and real GDP rises.
b. Price index rises, and real GDP falls.
c. Price index rises, and the change in real GDP is uncertain.
d. Price index falls, and real GDP rises.
e. The change in price index is uncertain, and real GDP falls.
.E
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How might Gap take advantage of economies of scale by combining concept stores into one store?
What will be an ideal response?
If cyclical unemployment is eliminated in the economy, then
A) the unemployment rate is above the natural rate of unemployment. B) the economy is considered to be at full employment. C) the unemployment rate is below the natural rate of unemployment. D) the economy is at less than full employment.
During what period did the US expand its area by the greatest amount?
a. Since 1970. b. 1910-1950. c. 1880-1900. d. 1800-1850. e. 1781-1795.
Perfect competition has all of the following features except
a. large number of firms b. goods that are perfect substitutes c. no barriers to entry d. brand loyalty e. firm has insignificant market share