In recent years the impact of bracket creep has been limited by the
What will be an ideal response?
In recent years the impact of bracket creep has been limited by the
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Total fixed costs decrease as output expands
a. True b. False
Think in terms of the consumer. A shortage of a good exists when
a. demand is greater than supply b. the quantity supplied is greater than the quantity demanded c. the quantity demanded is greater than the quantity supplied d. supply is greater than demand e. the price is at its equilibrium level, but the quantities bought and sold are not equal
Firms often seek to borrow money to expand their capital stock, and the price they pay for the money is the interest rate. What happens to the quantity of money supplied if the interest rate increases?
a. It increases. b. It decreases. c. It does not change. d. It depends entirely on the interest rate.
In the equation of exchange, V indicates the:
A. value or purchasing power of the dollar. B. number of times per year the average dollar is spent. C. quantity of real output. D. reciprocal of the price level.