Imports are goods and services bought domestically but produced in other countries
Indicate whether the statement is true or false
TRUE
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Refer to Figure 24-2. Ceteris paribus, an increase in productivity would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
Which countries demonstrate the theory of convergence with their closing of the gap with world leaders?
a. Hong Kong b. Singapore c. South Korea d. All of the above
Suppose over some period of time the money supply tripled, velocity doubled, and real GDP doubled. According to the quantity equation the price level is now
a. 6 times its old value. b. 3 times its old value. c. 1.5 times its old value. d. 0.75 times its old value.
The tax on cigarettes is
A. regressive and indirect. B. regressive and direct. C. progressive and indirect. D. progressive and direct.