Ignoring any supply-side effects, when taxes are hiked, real GDP ________ and the price level ________
A) increases; rises
B) decreases; rises
C) increases; falls
D) decreases; does not change
E) decreases; falls
E
Economics
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Refer to the above figure. Suppose point A is the original equilibrium. If there is an increase in the money supply, the new long-run equilibrium is given by point
A) A. B) B. C) C. D) D.
Economics
Studies of NAFTA have concluded that free trade caused ______ in the variety of U.S. imports from Mexico.
a. decreases b. increases c. no change d. slight decreases
Economics