Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.

Changes in government spending are not likely causes of business cycles because changes in government spending predict

A) countercyclical real wages. B) procyclical real wages. C) countercyclical employment. D) procyclical employment.

The producer price index was earlier known as _____

a. the retail price index b. the commodity market index c. the Fischer index d. the wholesale price index e. the cost of living index