Cutting taxes
A) will raise disposable income and lower spending.
B) will lower disposable income and raise spending.
C) will raise disposable income and raise spending.
D) will lower disposable income and lower spending.
C
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What is the main difference between monopolistic competition and monopolies?
What will be an ideal response?
Which type of business organization is the most important part of U.S. history given its "super" economic powers?
(a) Sole proprietorship (b) Partnership (c) "Mom and pop" business, which is a mix of sole proprietorships and partnerships (d) Corporation
Which of the following is NOT a feature of monopolistic competition?
A) significant numbers of sellers in a highly competitive market B) differentiated products C) sales promotion and advertising D) inability of firms to enter or exit the market
Real GDP differs from nominal GDP in that nominal GDP measures
a. output adjusted for inflation. b. real output of goods and services. c. output of goods and services at current prices. d. real income adjusted for changes in the price level.