Assume equilibrium at full employment for an economy characterized by the simple Keynesian model. If the government raises taxes to eliminate a budget deficit, then
A) the rate of unemployment will increase.
B) the level of aggregate output will increase.
C) the price level will increase.
D) the rate of interest will fall.
A
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Under a system of laissez faire, output selection is determined by consumers' wants
a. True b. False Indicate whether the statement is true or false
Because of its vast oil reserves, Saudi Arabia is a rich country. Saudi Arabia exemplifies the general fact that differences in __________ are responsible for some of the differences in standards of living around the world
Fill in the blank(s) with correct word
The main proponent of the liberal view of poverty is
A. Charles Murray. B. William Julius Wilson. C. Nicholas Lemann. D. David Rogers.
Monopolistic competition is characterized by:
A. Rothschild indices that are close to zero. B. concentration ratios that are well above zero. C. employing labor from a perfectly competitive labor market. D. differentiated products.