Long-run macroeconomic equilibrium occurs when aggregate demand ________ short-run aggregate supply and they ________ the long-run supply curve
A) is greater than; intersect at a point to the left of B) equals; intersect at a point on
C) equals; intersect at a point to the right of D) is less than; intersect at a point to the right of
B
Economics
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Tom is a U.S. citizen. He took up a job and moved to the U.K. His income will lead to a(n) ________
A) decrease in the GDP of U.K. B) increase in the GNP of U.K. C) increase in the GDP of U.S. D) increase in the GNP of U.S.
Economics
If a tax is regressive, the average tax rate
a. remains the same as income rises. b. rises as income rises. c. falls as income rises. d. falls as income falls.
Economics