The personal income tax varies as GDP changes
a. True
b. False
Indicate whether the statement is true or false
True
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The Central Bank of Wiknam increases the money supply at the same time the Parliament of Wiknam passes a new investment tax credit. Which of these policies shift aggregate demand to the right?
a. both the money supply increase and the investment tax credit b. the money supply increase but not the investment tax credit c. the investment tax credit but not the money supply increase d. neither the investment tax credit nor the money supply increase
What name is given to the plant and equipment used by firms in production?
A. Production function B. Physical capital C. Productivity D. Aggregate production function
If the wage rate were $90, how many workers would be hired?
According to Keynes, once a system attains an economy-wide equilibrium
A. planned investment will be zero. B. the economy will be at full productive capacity. C. there may or may not be excess productive capacity. D. planned consumption will be zero.