An increase in national income could by caused by which of the following?
A) an increase in gross domestic product B) a decrease in personal income
C) an increase in depreciation D) an increase in personal taxes
A
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Which of the following statements is true?
A. Both the debt and the deficit or surplus are flow measures. B. The debt is a flow measure and the deficit or surplus is a stock measure. C. The debt is a stock measure and the deficit or surplus is a flow measure. D. Both the debt and the deficit or surplus are stock measures.
A monopolistically competitive firm is producing at a short-run output level where average total cost is $10.00, marginal cost is $5.00, marginal revenue is $6.00, and price is $12.00. In the short run, the firm should:
A. make no change in the level of output. B. increase the level of output. C. decrease the level of output. D. increase product price.