If the government increases taxes, the
A. aggregate supply decreases.
B. aggregate demand decreases.
C. aggregate supply increases.
D. aggregate demand increases.
Answer: B
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In the late 1800s, the Goodyear welt process vastly increased productivity in the ______ industry
a. steel b. boot and shoe c. tire d. cotton textiles
After a price floor of $23 is placed on the market in the graph shown, which area represents total surplus?
A. A
B. B + C + E + F
C. A + B + E
D. A + B + C + E + F
You have noticed that there is an increase in the number of homeless people in your city. At the same time you observe that there are also a number of vacant apartments. You believe that the government could reduce the number of homeless people if landlords were required to rent their apartments for less than they are currently charging. This policy recommendation would be motivated by concerns over
A. equity. B. stability. C. efficiency. D. economic growth.
Most economists believe that import-substitution strategies have been quite successful around the world.
Answer the following statement true (T) or false (F)