The aggregate supply-aggregate demand diagram relates various levels of
A. imports and exports of goods against exchange rates.
B. all prices as measured by the CPI and production as measured by real GDP.
C. the price and quantity of a particular good.
D. production of two different goods.
Answer: B
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A sale of securities by the Fed causes
A) a contraction of the money supply equal to the amount of the securities sold. B) an expansion of the money supply equal to the amount of the securities sold. C) a multiple expansion of the money supply greater than the amount of the securities sold. D) a multiple contraction of the money supply greater than the amount of the securities sold.
Tax revenues can rise as a result of a decrease in income tax rates, as long as the tax base increases sufficiently
Indicate whether the statement is true or false