In the above figure, if the tax rate is increased from 20 percent to 30 percent, tax revenue
A) decreases.
B) is constant.
C) increases.
D) may increase or decrease.
C
Economics
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In perfectly elastic supply, the more elastic the supply is, the . . .
What will be an ideal response?
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If economists say that a 7 percent growth in the money supply will increase aggregate demand by 7 percent, they are assuming that velocity
A. will decrease. B. is constant. C. will increase. D. is unpredictable.
Economics
Per-capita output growth is the growth rate of output
A. of the entire economy. B. per worker in the economy. C. for capitalist economies. D. per person in the economy.
Economics
As an economy modernizes and its standard of living rises, the proportion of transactions conducted with barter
A. rises. B. falls. C. remains about the same.
Economics