The most important tax in the U.S. economy is the tax on corporations' profits
a. True
b. False
Indicate whether the statement is true or false
False
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
What is the relationship between the short-run Phillips curve and the long-run Phillips curve?
What will be an ideal response?
How will the exchange rate (foreign currency per dollar) respond to an increase in preference for imported goods in the United States in the long run?
A) Exchange rates will be unaffected by changes in the relative rate of productivity growth in the United States, both in the short run and in the long run. B) Exchange rates will fall. C) Exchange rates will rise. D) The exchange rate will be affected in the short run, but not in the long run.
Your boss gives you an increase in the number of dollars you earn per hour. This increase in pay makes
What will be an ideal response?