An increase in total output or real GDP is
A. Economic growth.
B. The inequality trap.
C. The Millennium Poverty Goal.
D. Productivity growth.
Answer: A
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In many political elections, states often hold a primary election, and the winners of the primary election face off in the general election. This method of voting is called a ________ election
Fill in the blank(s) with correct word
A tax system in which the tax rate on everyone's first $10,000 of income is 10 percent, the tax rate on everyone's second $10,000 of income is 15 percent, and the tax rate on all income over $20,000 is 25 percent is a(n):
a. proportional tax. b. equitable tax. c. head tax. d. unit tax. e. progressive tax.
The principal objective of the Federal Reserve System is to
a. circulate coins and paper Federal Reserve Notes. b. subsidize the income of member banks. c. help stabilize the economy through monetary policy. d. make profits to remit to the Treasury Department.
Other things constant, a decrease in resource prices will lead to
a. reduced profits and a reduction in short-run aggregate supply. b. increased profits and a reduction in short-run aggregate supply. c. reduced profits and an increase in short-run aggregate supply. d. increased profits and an increase in short-run aggregate supply.