Tax reduction and simplification should ________ long-run aggregate supply and ________ aggregate demand
A) decrease; increase B) increase; decrease C) decrease; decrease D) increase; increase
D
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Which of the following methods is used by unions to increase the demand for the labor of its members?
A) Decrease the marginal product of union members. B) Support minimum wage laws. C) Oppose import restrictions. D) Decrease demand for the good produced.
Suppose the president is successful in passing a $5 billion tax increase. Assume that taxes are fixed, the economy is closed, and the marginal propensity to consume is 0.75. What happens to equilibrium GDP?
A) There is a $20 billion decrease in equilibrium GDP. B) There is a $15 billion decrease in equilibrium GDP. C) There is a $15 billion increase in equilibrium GDP. D) There is a $20 billion increase in equilibrium GDP.
A financial intermediary is an institution that stands between savers and the government
a. True b. False Indicate whether the statement is true or false
Both the unionization and concentration rates are measures of market power.
Answer the following statement true (T) or false (F)