If all prices fall by 5 percent and money income remains constant, the new budget line will have

If devaluation improves only the BOP, rather than the BOT, this implies that the capital account must have improved following a devaluation

Indicate whether the statement is true or false

Which economist argued that high tax rates can produce less tax revenues?

a. Robert Ferber b. A. W. Phillips c. Alex Maxwell d. Frantisek Bass e. Arthur Laffer