Which would be one of the factors that increase aggregate demand?
A. An increase in consumer wealth.
B. An increase in the productivity of labor.
C. An increase in personal income tax rates.
D. An increase in real interest rates.
Answer: A
Economics
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If you feel you are better off because you receive a 10 percent raise even when the price level also increases by 10 percent, then you are a victim of the
A) real purchasing power effect. B) money income effect. C) real income effect. D) money illusion.
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Suppose the annual growth rate of GDP in Nepal is 5 percent. In 35 years, GDP in Nepal will double
A) 1.75 times. B) 2.5 times. C) 7 times. D) 24.5 times.
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