During the recession of 1980-1982, output, the inflation rate, and the interest rate all increased.
Answer the following statement true (T) or false (F)
False
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An increased demand for the services of tax accountants
A) may raise their fees but cannot affect their costs. B) may raise their fees by making it more costly for them to provide services to any client. C) will lead to fewer people using the services of tax accountants because higher prices mean a smaller quantity demanded. D) will lower their fees in the long run by producing more tax accountants.
A person who is in the 15 percent marginal tax bracket and has a total taxable income of $100,000 will owe $15,000 in taxes
a. True b. False Indicate whether the statement is true or false
If an incumbent cannot commit and faces an identical potential entrant with relatively high fixed costs that are below the level where entry is blockaded, the incumbent will
A) produce the Cournot duopolist level of output. B) produce the Stackelberg leader level of output. C) set price equal to marginal cost. D) produce a level of output that is greater than the Stackelberg leader level of output.
Monetary policy designed to counteract a reduction in aggregate demand might include
A. a reduction in the money stock. B. a reduction in short-term interest rates. C. an increase in individual income tax rates. D. increased government infrastructure spending.