If business decision makers expect that the inflation rate will increase in the near future,
a. long-run aggregate supply will increase.
b. long-run aggregate supply will decrease.
c. short-run aggregate supply will increase.
d. short-run aggregate supply will decrease.
D
Economics
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A "flat tax" on personal income, in which the same tax rate is applied to every dollar of income earned by each taxpayer, is an example of
A) a regressive tax. B) a proportional tax. C) a progressive tax. D) a value-added tax.
Economics
Which is likely to be larger, the velocity of M1 or M2?
a. M1, because M2 is a larger number. b. M2, because M1 is a larger number. c. The velocities of both are approximately equal. d. The numbers of velocity switch in relative size.
Economics