The economy is growing if and only if
A. real GDP is rising.
B. GDP is rising.
C. the average price level is rising.
D. GDP per capita is rising.
Answer: A
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A set of actions that a firm takes to achieve a goal is the definition of a
A) business prospectus. B) business strategy. C) business goal. D) business plan.
If the price of vanilla ice cream decreases, it is likely that
a. demand for vanilla ice cream will increase b. demand for vanilla ice cream will decrease c. demand for chocolate ice cream will increase d. demand for chocolate ice cream will decrease e. the quantity demanded of vanilla ice cream will decrease
A progressive income tax means the percentage of income paid in taxes decreases as income increases
a. True b. False Indicate whether the statement is true or false
Free trade is viewed as key to economic development because
A. it brings in expensive new technology. B. it encourages a faster spread of technology. C. it encourages a country's exports only. D. none of these is correct.