Which of the following countries would find it easiest to achieve rapid growth in per capita GDP?
a. United States
b. United Kingdom
c. France
d. Mexico
d
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When the percentage change in the quantity demanded equals the percentage change in price, then demand is
A) inelastic. B) unit elastic. C) elastic. D) irrelevant. E) undefined.
Even a monetary policy based on a rigid high-powered money growth rate rule can lack policy credibility, due in part to ________, while a policy that targets the inflation rate itself ________
A) lags, must have policy credibility by definition B) lags, can lack credibility due to both lags and multiplier certainty C) multiplier uncertainty, must have policy credibility by definition D) multiplier uncertainty, can lack credibility due to both lags and multiplier uncertainty
The marginal tax rate is equal to the
A) total amount of a person's tax payment divided by the total amount of the person's taxable income. B) total amount of a person's tax payment divided by the change in the person's taxable income. C) change in the person's tax payment divided by the total amount of the person's taxable income. D) change in the person's tax payment divided by the change in the person's taxable income.
Why does this graph show P1, but not P2?
a. The price does not change.
b. The price change is so small it is not worth showing.
c. The price change fails to affect demand.
d. The price change fluctuates constantly.