Cross country data illustrates that rapid expansion in the supply of money over a lengthy period of time (for example, a decade) leads to
a. rapid growth of real output.
b. a low real rate of interest.
c. high rates of inflation.
d. an inflow of capital and a high rate of investment.
C
Economics
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Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is $4, and Winnie maximizes his profit when he employs 4 workers, the wage rate is
A) $90 per day. B) $30 per day. C) $70 per day. D) $50 per day.
Economics
Using the principle of vertical equity, it is easy to argue in favor of _____
a. sumptuary taxation b. progressive taxation c. regressive taxation d. none of the above
Economics