Long-run Phillips curve is a vertical line drawn at the economy's natural rate of ________

If the inflation rate is 5 percent and the real rate of interest is 3 percent, the nominal interest rate is

A) 8 percent. B) 5 percent. C) 3 percent. D) 2 percent.

The value of goods, services, incomes or wealth subject to taxation is

A) the tax base. B) a sales tax. C) the collected tax revenue. D) a unit tax.